TD Asset Management Inc Has $314.71 Million Stake in Caterpillar Inc. $CAT

Key Points

• TD Asset Management Inc increased its Caterpillar stake by 137.4% in the fourth quarter, ending with 549,364 shares valued at about $314.7 million.
• Caterpillar reported strong quarterly results, with EPS of $5.54 beating estimates and revenue of $17.42 billion, up 22.2% year over year.
• The company also raised investor returns with a quarterly dividend of $1.51 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $933.27.

TD Asset Management Inc boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 137.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 549,364 shares of the industrial products company's stock after acquiring an additional 317,988 shares during the quarter. TD Asset Management Inc owned 0.12% of Caterpillar worth $314,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Torren Management LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $27,000. Frazier Financial Advisors LLC boosted its position in shares of Caterpillar by 220.0% during the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock worth $28,000 after buying an additional 33 shares during the period. IFS Advisors LLC acquired a new position in shares of Caterpillar during the fourth quarter worth about $31,000. Rialto Wealth Management LLC boosted its position in shares of Caterpillar by 47.4% during the fourth quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company's stock worth $32,000 after buying an additional 18 shares during the period. Finally, Noble Wealth Management PBC boosted its position in shares of Caterpillar by 140.0% during the fourth quarter. Noble Wealth Management PBC now owns 60 shares of the industrial products company's stock worth $34,000 after buying an additional 35 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Caterpillar Stock Performance

CAT opened at $927.18 on Thursday. Caterpillar Inc. has a 52-week low of $345.85 and a 52-week high of $936.71. The firm has a market capitalization of $427.05 billion, a PE ratio of 46.15, a PEG ratio of 1.79 and a beta of 1.59. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The business's 50-day simple moving average is $823.77 and its 200 day simple moving average is $710.34.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same quarter in the prior year, the company posted $4.25 earnings per share. Caterpillar's revenue was up 22.2% on a year-over-year basis. As a group, sell-side analysts expect that Caterpillar Inc. will post 24.67 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, April 20th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, April 20th. Caterpillar's dividend payout ratio is presently 30.06%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial set a $1,043.00 price objective on Caterpillar in a research report on Friday, May 1st. Wolfe Research upped their price objective on Caterpillar from $670.00 to $750.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 31st. Oppenheimer set a $980.00 price objective on Caterpillar and gave the stock an "outperform" rating in a research report on Friday, May 1st. Morgan Stanley set a $915.00 price objective on Caterpillar and gave the stock an "equal weight" rating in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on Caterpillar from $860.00 to $1,125.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $933.27.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 16,283 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $916.80, for a total value of $14,928,254.40. Following the sale, the insider owned 46,041 shares in the company, valued at $42,210,388.80. This represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO William E. Schaupp sold 360 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the completion of the sale, the chief accounting officer owned 530 shares in the company, valued at $480,180. This represents a 40.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 95,773 shares of company stock valued at $87,642,635. Company insiders own 0.33% of the company's stock.

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.

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