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

Axxcess Wealth Management LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 1.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors also recently added to or reduced their stakes in the company. Arrow Financial Corp boosted its position in shares of Caterpillar by 0.3% in the third quarter. Arrow Financial Corp now owns 13,931 shares of the industrial products company’s stock valued at $5,449,000 after acquiring an additional 47 shares during the period. Transcendent Capital Group LLC raised its stake in Caterpillar by 122.5% during the 3rd quarter. Transcendent Capital Group LLC now owns 1,324 shares of the industrial products company’s stock valued at $518,000 after purchasing an additional 729 shares during the last quarter. Houlihan Financial Resource Group Ltd. bought a new stake in Caterpillar in the 3rd quarter valued at $295,000. Essex Savings Bank grew its position in Caterpillar by 3.1% in the 3rd quarter. Essex Savings Bank now owns 6,244 shares of the industrial products company’s stock worth $2,442,000 after purchasing an additional 186 shares during the last quarter. Finally, Field & Main Bank raised its position in shares of Caterpillar by 0.6% during the third quarter. Field & Main Bank now owns 7,828 shares of the industrial products company’s stock valued at $3,062,000 after buying an additional 45 shares during the last quarter. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Down 3.6 %

CAT stock opened at $393.37 on Friday. The business has a fifty day moving average price of $376.80 and a 200 day moving average price of $352.75. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86. Caterpillar Inc. has a fifty-two week low of $233.82 and a fifty-two week high of $418.50. The stock has a market capitalization of $190.75 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 2.06 and a beta of 1.10.

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

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, October 21st. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.43%. Caterpillar’s payout ratio is 26.15%.

Insider Activity

In related news, CAO William E. Schaupp sold 968 shares of the business’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 value of $368,788.64. Following the completion of the transaction, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO William E. Schaupp sold 968 shares of Caterpillar stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $380.98, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cheryl H. Johnson sold 2,975 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $342.48, for a total value of $1,018,878.00. Following the sale, the insider now directly owns 15,615 shares of the company’s stock, valued at $5,347,825.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock valued at $9,251,912 over the last three months. 0.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CAT shares. Truist Financial boosted their price target on Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their price objective on Caterpillar from $285.00 to $295.00 and gave the company a “sell” rating in a research report on Monday, November 4th. Barclays lifted their price target on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Robert W. Baird increased their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research note on Thursday, October 31st. Finally, Bank of America lifted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $362.40.

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.