Axxcess Wealth Management LLC Buys 4,470 Shares of Caterpillar Inc. (NYSE:CAT)

Axxcess Wealth Management LLC increased its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 21.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,176 shares of the industrial products company's stock after purchasing an additional 4,470 shares during the period. Axxcess Wealth Management LLC's holdings in Caterpillar were worth $8,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth about $26,000. Cyrus J. Lawrence LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $27,000. Investment Management Corp VA ADV acquired a new stake in Caterpillar in the 4th quarter valued at about $33,000. Quarry LP bought a new position in Caterpillar during the fourth quarter worth about $35,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Caterpillar during the fourth quarter worth about $36,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CAT has been the subject of a number of research analyst reports. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $272.00 to $357.00 in a report on Friday, May 16th. Robert W. Baird lifted their price target on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Evercore ISI reduced their price target on Caterpillar from $375.00 to $373.00 and set an "in-line" rating for the company in a report on Monday, May 19th. Oppenheimer upgraded Caterpillar from a "market perform" rating to an "outperform" rating and set a $395.00 price target for the company in a report on Thursday, May 1st. Finally, DA Davidson increased their price target on shares of Caterpillar from $325.00 to $331.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of "Moderate Buy" and a consensus price target of $404.64.

Insider Transactions at Caterpillar

In other news, Director David Maclennan acquired 375 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were acquired at an average cost of $320.70 per share, with a total value of $120,262.50. Following the completion of the purchase, the director directly owned 6,653 shares of the company's stock, valued at $2,133,617.10. The trade was a 5.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by company insiders.

Caterpillar Stock Performance

Shares of CAT traded down $2.60 during mid-day trading on Friday, hitting $405.73. 2,072,409 shares of the company's stock were exchanged, compared to its average volume of 2,530,412. Caterpillar Inc. has a 52 week low of $267.30 and a 52 week high of $418.50. The stock's 50-day simple moving average is $360.79 and its 200-day simple moving average is $348.06. The firm has a market cap of $191.12 billion, a price-to-earnings ratio of 19.77, a price-to-earnings-growth ratio of 2.70 and a beta of 1.38. The company has a quick ratio of 0.77, a current ratio of 1.32 and a debt-to-equity ratio of 1.43.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). The firm had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business's revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business earned $5.60 earnings per share. On average, equities research analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.49%. This is a boost from Caterpillar's previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Monday, July 21st. Caterpillar's dividend payout ratio (DPR) is 27.49%.

About Caterpillar

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.