Axxcess Wealth Management LLC Sells 1,355 Shares of Caterpillar Inc. (NYSE:CAT)

Axxcess Wealth Management LLC lowered its holdings in Caterpillar Inc. (NYSE:CAT) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,477 shares of the industrial products company’s stock after selling 1,355 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Caterpillar were worth $6,821,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gilbert & Cook Inc. raised its stake in shares of Caterpillar by 3.9% in the fourth quarter. Gilbert & Cook Inc. now owns 5,059 shares of the industrial products company’s stock worth $1,496,000 after purchasing an additional 192 shares during the last quarter. 9258 Wealth Management LLC lifted its stake in Caterpillar by 1.5% during the 4th quarter. 9258 Wealth Management LLC now owns 3,839 shares of the industrial products company’s stock valued at $1,135,000 after acquiring an additional 55 shares in the last quarter. Rollins Financial boosted its holdings in Caterpillar by 49.1% during the 4th quarter. Rollins Financial now owns 6,395 shares of the industrial products company’s stock worth $1,891,000 after acquiring an additional 2,107 shares during the last quarter. Gryphon Financial Partners LLC grew its stake in shares of Caterpillar by 6.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,496 shares of the industrial products company’s stock worth $420,000 after acquiring an additional 92 shares in the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Caterpillar by 17.1% during the fourth quarter. Brown Advisory Inc. now owns 85,363 shares of the industrial products company’s stock valued at $25,239,000 after purchasing an additional 12,490 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CAT shares. UBS Group upped their price objective on shares of Caterpillar from $270.00 to $285.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Truist Financial reissued a “buy” rating and issued a $399.00 price objective (up previously from $390.00) on shares of Caterpillar in a research report on Wednesday, August 7th. Citigroup started coverage on Caterpillar in a research note on Wednesday, June 26th. They set a “buy” rating and a $380.00 target price on the stock. Bank of America decreased their price objective on shares of Caterpillar from $385.00 to $376.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $336.31.

Caterpillar Stock Up 0.8 %

CAT stock opened at $347.96 on Tuesday. Caterpillar Inc. has a twelve month low of $223.76 and a twelve month high of $382.01. The firm has a market capitalization of $170.17 billion, a PE ratio of 15.71, a PEG ratio of 1.56 and a beta of 1.10. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 1.39. The stock has a 50-day simple moving average of $341.08 and a two-hundred day simple moving average of $344.15.

Caterpillar (NYSE:CAT) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $0.46. The company had revenue of $16.69 billion during the quarter, compared to analyst estimates of $16.91 billion. Caterpillar had a return on equity of 59.88% and a net margin of 16.58%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $5.55 earnings per share. On average, equities analysts predict that Caterpillar Inc. will post 21.88 EPS for the current fiscal year.

Caterpillar declared that its board has initiated a share repurchase plan on Wednesday, June 12th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Wednesday, September 4th. The shares were purchased at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now owns 2,842 shares in the company, valued at approximately $962,272.78. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Gerald Johnson bought 100 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $338.59 per share, for a total transaction of $33,859.00. Following the transaction, the director now directly owns 2,842 shares of the company’s stock, valued at approximately $962,272.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. The disclosure for this sale can be found here. Insiders sold a total of 7,668 shares of company stock valued at $2,665,760 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.