Axxcess Wealth Management LLC Sells 2,256 Shares of Caterpillar Inc. $CAT

Key Points

• Axxcess Wealth Management reduced its Caterpillar stake by 10.1% in the first quarter, selling 2,256 shares and leaving it with 20,164 shares valued at about $14.3 million.
• Insider selling has been notable, with executives Jason Kaiser and Denise C. Johnson both selling shares recently; company insiders have sold 95,773 shares over the last 90 days.
• Caterpillar reported strong quarterly results, beating earnings and revenue estimates, and also raised its quarterly dividend to $1.63 per share from $1.51.

Axxcess Wealth Management LLC trimmed its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 10.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,164 shares of the industrial products company's stock after selling 2,256 shares during the period. Axxcess Wealth Management LLC's holdings in Caterpillar were worth $14,285,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CAT. Lam Group Inc. acquired a new stake in Caterpillar in the first quarter worth $26,000. Torren Management LLC acquired a new position in shares of Caterpillar in the 4th quarter valued at $27,000. Frazier Financial Advisors LLC increased its position in shares of Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock valued at $28,000 after buying an additional 33 shares in the last quarter. IFS Advisors LLC bought a new position in Caterpillar during the fourth quarter worth about $31,000. Finally, Cornerstone Financial Management LLC bought a new position in Caterpillar during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 70.98% of the company's stock.

Insider Activity at Caterpillar

In other news, insider Jason Kaiser sold 5,642 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $883.03, for a total value of $4,982,055.26. Following the completion of the transaction, the insider owned 9,594 shares in the company, valued at $8,471,789.82. This trade represents a 37.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise C. Johnson sold 12,605 shares of Caterpillar stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total value of $11,444,205.55. Following the completion of the sale, the insider directly owned 49,825 shares in the company, valued at approximately $45,236,615.75. This represents a 20.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 95,773 shares of company stock worth $87,642,635. Corporate insiders own 0.33% of the company's stock.

Caterpillar Price Performance

Shares of CAT opened at $940.64 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a twelve month low of $391.52 and a twelve month high of $1,073.46. The stock has a market capitalization of $433.25 billion, a P/E ratio of 46.82, a P/E/G ratio of 1.91 and a beta of 1.57. The company has a 50 day moving average of $923.21 and a 200-day moving average of $775.64.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The business had revenue of $17.41 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the previous year, the firm posted $4.25 earnings per share. The firm's revenue for the quarter was up 22.2% on a year-over-year basis. As a group, equities research analysts forecast that Caterpillar Inc. will post 24.71 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be given a dividend of $1.63 per share. This is a boost from Caterpillar's previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Monday, July 20th. This represents a $6.52 annualized dividend and a yield of 0.7%. Caterpillar's payout ratio is presently 30.06%.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar announced it acquired Skycatch, a provider of spatial data capture and AI tools for mining, expanding its mining technology platform after the recent RPMGlobal deal. The move should strengthen Caterpillar’s data-driven offerings and support future growth in mining solutions. Caterpillar expands mining technology capabilities with Skycatch acquisition
• Positive Sentiment: Analysts highlighted Caterpillar’s strong earnings surprise history and said the company looks positioned to beat estimates again, which can help support investor confidence in the stock. Why Caterpillar (CAT) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Truist raised its price target on Caterpillar and kept a Buy rating, signaling continued Wall Street optimism around the company’s earnings and valuation. Truist Remains Bullish on Caterpillar Inc. (CAT)
• Neutral Sentiment: Multiple articles compared Caterpillar with Terex on valuation, but this is more of a stock-screening discussion than a direct catalyst for CAT shares. TEX vs. CAT: Which Stock Is the Better Value Option?
• Negative Sentiment: Despite the acquisition being strategically positive, the market appears to be reacting cautiously and selling the stock on the announcement, suggesting investors are focusing on near-term deal concerns or broader profit-taking. Caterpillar Acquires Skycatch to Expand Mining Technology Capabilities

Analyst Ratings Changes

CAT has been the subject of several recent analyst reports. Citigroup increased their price target on Caterpillar from $905.00 to $1,020.00 and gave the stock a "buy" rating in a report on Friday, May 1st. Truist Financial boosted their price objective on Caterpillar from $1,043.00 to $1,218.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Zacks Research raised Caterpillar from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 8th. Argus lifted their price target on shares of Caterpillar from $820.00 to $990.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Finally, Williams Trading set a $825.00 price target on shares of Caterpillar in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $949.41.

Caterpillar Company Profile

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.

Want to see what other hedge funds are holding CAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Caterpillar Inc. (NYSE:CAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.