Axxcess Wealth Management LLC Has $7.88 Million Stake in Caterpillar Inc. (NYSE:CAT)

Axxcess Wealth Management LLC reduced its stake in shares of Caterpillar Inc. (NYSE:CAT) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,157 shares of the industrial products company’s stock after selling 320 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Caterpillar were worth $7,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in Caterpillar by 17.2% in the first quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock worth $3,308,000 after purchasing an additional 1,327 shares during the period. Alpha Cubed Investments LLC raised its stake in Caterpillar by 5.6% during the 3rd quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after buying an additional 6,212 shares during the period. First Affirmative Financial Network bought a new position in Caterpillar during the third quarter worth about $204,000. Inspire Advisors LLC grew its stake in Caterpillar by 25.8% in the third quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after acquiring an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC increased its holdings in shares of Caterpillar by 33.7% in the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock worth $6,485,000 after acquiring an additional 4,182 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CAT shares. Bank of America lifted their price objective on Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a report on Monday, September 30th. StockNews.com cut shares of Caterpillar from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Barclays raised their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial upped their target price on shares of Caterpillar from $399.00 to $456.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $362.40.

Insider Activity

In related news, insider Lange Bob De sold 12,657 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the transaction, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Caterpillar news, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now directly owns 1,686 shares in the company, valued at $642,332.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $410.25, for a total value of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock valued at $9,251,912 over the last three months. Insiders own 0.29% of the company’s stock.

Caterpillar Stock Down 3.6 %

NYSE:CAT opened at $393.37 on Friday. The firm has a market capitalization of $190.75 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 2.06 and a beta of 1.10. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar Inc. has a twelve month low of $233.82 and a twelve month high of $418.50. The stock’s 50 day moving average price is $376.80 and its two-hundred day moving average price is $352.75.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion for the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the company posted $5.52 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Caterpillar Inc. will post 21.69 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Monday, October 21st will be paid a $1.41 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $5.64 annualized dividend and a yield of 1.43%. Caterpillar’s dividend payout ratio is 26.15%.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.