TD Asset Management Inc Sells 3,273 Shares of Caterpillar Inc. $CAT

Key Points

• TD Asset Management Inc reduced its stake in Caterpillar Inc. by 1.4%, owning 236,019 shares after selling 3,273 shares last quarter, valued at approximately $91.6 million.
• Several institutional investors increased their holdings in Caterpillar, with Valeo Financial Advisors raising theirs by an extraordinary 36,842.1% in the second quarter.
• Caterpillar recently announced a quarterly dividend of $1.51 per share, which will be paid on November 20th, representing an annualized yield of 1.1% with a payout ratio of 30.72%.

TD Asset Management Inc lessened its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,019 shares of the industrial products company's stock after selling 3,273 shares during the quarter. TD Asset Management Inc owned approximately 0.05% of Caterpillar worth $91,625,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. Valeo Financial Advisors LLC raised its holdings in Caterpillar by 36,842.1% in the second quarter. Valeo Financial Advisors LLC now owns 7,299,751 shares of the industrial products company's stock worth $2,833,836,000 after purchasing an additional 7,279,991 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Caterpillar by 6.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,204,445 shares of the industrial products company's stock worth $1,386,626,000 after purchasing an additional 264,054 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Caterpillar by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,304,448 shares of the industrial products company's stock worth $1,089,798,000 after purchasing an additional 15,347 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Caterpillar by 9.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,229,080 shares of the industrial products company's stock worth $1,064,951,000 after purchasing an additional 268,300 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Caterpillar by 5.0% in the first quarter. Invesco Ltd. now owns 3,141,936 shares of the industrial products company's stock worth $1,036,211,000 after purchasing an additional 150,533 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. DA Davidson increased their price objective on Caterpillar from $331.00 to $388.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Robert W. Baird increased their price objective on Caterpillar from $495.00 to $540.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Weiss Ratings restated a "buy (b)" rating on shares of Caterpillar in a report on Tuesday. Jefferies Financial Group raised their price target on Caterpillar from $500.00 to $570.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, Evercore ISI upgraded Caterpillar from an "in-line" rating to an "outperform" rating and set a $476.00 price target for the company in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $501.47.

Caterpillar Trading Up 4.8%

Caterpillar stock opened at $528.75 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a one year low of $267.30 and a one year high of $531.56. The stock has a market capitalization of $247.71 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.46. The business's fifty day moving average is $446.55 and its 200 day moving average is $386.71.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing the consensus estimate of $4.88 by ($0.16). Caterpillar had a net margin of 14.95% and a return on equity of 48.95%. The business had revenue of $16.57 billion for the quarter, compared to analysts' expectations of $16.14 billion. During the same period last year, the business earned $5.99 earnings per share. The company's quarterly revenue was down .7% on a year-over-year basis. On average, sell-side analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar's dividend payout ratio (DPR) is 30.72%.

Insider Activity at Caterpillar

In other Caterpillar news, Chairman Donald J. Umpleby III sold 17,166 shares of the firm's stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $505.29, for a total value of $8,673,808.14. Following the transaction, the chairman directly owned 448,173 shares of the company's stock, valued at approximately $226,457,335.17. This trade represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the completion of the transaction, the director directly owned 6,917 shares in the company, valued at $2,835,970. The trade was a 25.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,985 shares of company stock valued at $25,559,300 over the last ninety days. 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.

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