Axxcess Wealth Management LLC Buys 1,832 Shares of Caterpillar Inc. $CAT

Axxcess Wealth Management LLC boosted its stake in Caterpillar Inc. (NYSE:CAT) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,816 shares of the industrial products company’s stock after purchasing an additional 1,832 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Caterpillar were worth $10,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Marquette Asset Management LLC lifted its stake in Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 53 shares in the last quarter. Joseph Group Capital Management bought a new position in shares of Caterpillar in the third quarter worth $32,000. Kilter Group LLC purchased a new stake in shares of Caterpillar in the second quarter worth $27,000. Mid American Wealth Advisory Group Inc. bought a new stake in Caterpillar during the second quarter valued at $28,000. Finally, Sellwood Investment Partners LLC purchased a new position in Caterpillar during the third quarter worth about $35,000. 70.98% of the stock is owned by hedge funds and other institutional investors.

Caterpillar Trading Down 1.3%

NYSE CAT opened at $764.27 on Wednesday. The firm has a market cap of $357.66 billion, a PE ratio of 40.61, a price-to-earnings-growth ratio of 1.83 and a beta of 1.58. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $789.81. The stock has a 50-day moving average of $641.06 and a 200-day moving average of $546.70. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.49. The business had revenue of $19.13 billion for the quarter, compared to analysts’ expectations of $17.81 billion. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $5.14 EPS. As a group, sell-side analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Tuesday, January 20th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, January 20th. Caterpillar’s dividend payout ratio (DPR) is 32.09%.

Insider Activity

In other news, insider Anthony D. Fassino sold 10,671 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $680.45, for a total transaction of $7,261,081.95. Following the completion of the sale, the insider directly owned 41,151 shares in the company, valued at approximately $28,001,197.95. This represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $575.06, for a total value of $5,750,600.00. Following the transaction, the chief financial officer owned 45,460 shares in the company, valued at approximately $26,142,227.60. This represents a 18.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 138,436 shares of company stock valued at $94,425,251. 0.33% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CAT. Wells Fargo & Company lifted their price target on Caterpillar from $702.00 to $756.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Evercore boosted their price target on shares of Caterpillar from $476.00 to $630.00 and gave the stock an “outperform” rating in a research note on Monday, November 17th. UBS Group restated a “neutral” rating and set a $677.00 price objective on shares of Caterpillar in a research report on Monday, February 2nd. Sanford C. Bernstein reissued a “market perform” rating and issued a $678.00 target price on shares of Caterpillar in a research note on Friday, January 30th. Finally, Citigroup upped their price objective on Caterpillar from $710.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Sixteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $702.95.

About Caterpillar

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off?highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.