Atria Investments Inc. reduced its holdings in Caterpillar Inc. (CAT, Financial) by 21.4% during the third quarter, according to a recent SEC filing. Despite this, analysts' opinions remain mixed about the industrial giant.
Atria sold 9,193 shares, leaving them with 33,853 shares valued at roughly $13.24 million at the end of the period. This news comes as Caterpillar's stock price fluctuates within a wide range, with a 12-month low of $233.82 and a high of $418.50.
Meanwhile, analyst ratings for CAT paint a conflicting picture. While Truist Financial raised its price target to a bullish $456 with a "buy" rating, Robert W. Baird remains cautious, maintaining an "underperform" rating despite a slight price target increase to $300. StockNews.com and Citigroup also issued downgrades recently.
JPMorgan Chase stands out with a more optimistic view, raising their target to $500 and assigning an "overweight" rating. The consensus currently leans towards a "hold" position, with an average target price of $362.40.
