TD Asset Management Inc Has $78.92 Million Stock Holdings in Caterpillar Inc. (NYSE:CAT)

Key Points

• TD Asset Management Inc. reduced its stake in Caterpillar Inc. by 3.9%, selling 9,708 shares and bringing its total holdings to approximately 239,292 shares worth $78.9 million.
• Caterpillar recently declared an increased quarterly dividend of $1.51 per share, up from $1.41, reflecting an annualized dividend of $6.04 with a yield of 1.39%.
• Several analysts have upgraded Caterpillar's stock ratings, with price targets ranging from $283.00 to $422.00, indicating a consensus rating of "Moderate Buy."

TD Asset Management Inc cut its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 239,292 shares of the industrial products company's stock after selling 9,708 shares during the period. TD Asset Management Inc owned about 0.05% of Caterpillar worth $78,919,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Caterpillar by 43,447.3% during the first quarter. GAMMA Investing LLC now owns 3,730,259 shares of the industrial products company's stock worth $1,230,239,000 after acquiring an additional 3,721,693 shares during the period. Pacer Advisors Inc. increased its stake in Caterpillar by 2,723.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,414,280 shares of the industrial products company's stock valued at $466,430,000 after buying an additional 1,364,183 shares during the last quarter. Capital Research Global Investors increased its stake in Caterpillar by 69.3% in the 4th quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after buying an additional 1,196,861 shares during the last quarter. Northern Trust Corp increased its stake in Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after buying an additional 724,477 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in Caterpillar by 1,278.6% in the 4th quarter. APG Asset Management N.V. now owns 440,641 shares of the industrial products company's stock valued at $154,367,000 after buying an additional 408,678 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America lifted their price target on shares of Caterpillar from $335.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Barclays lifted their price objective on shares of Caterpillar from $335.00 to $383.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Truist Financial lifted their price objective on shares of Caterpillar from $396.00 to $414.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Robert W. Baird lifted their price objective on shares of Caterpillar from $395.00 to $422.00 and gave the company an "outperform" rating in a research report on Friday, June 20th. Finally, Oppenheimer lifted their price objective on shares of Caterpillar from $395.00 to $483.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Caterpillar has an average rating of "Moderate Buy" and a consensus price target of $419.33.

Caterpillar Stock Performance

NYSE CAT traded up $6.36 during trading on Thursday, reaching $440.48. The company's stock had a trading volume of 1,340,899 shares, compared to its average volume of 2,676,948. The company has a current ratio of 1.32, a quick ratio of 0.77 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $207.48 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.69 and a beta of 1.38. Caterpillar Inc. has a 12 month low of $267.30 and a 12 month high of $441.15. The firm has a 50 day moving average price of $382.09 and a 200 day moving average price of $353.44.

Caterpillar (NYSE:CAT - Get Free Report) last posted 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 business 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 for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $5.60 EPS. As a group, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, July 21st will be given a $1.51 dividend. The ex-dividend date is Monday, July 21st. This is a boost from Caterpillar's previous quarterly dividend of $1.41. This represents a $6.04 annualized dividend and a dividend yield of 1.37%. Caterpillar's payout ratio is presently 29.43%.

Insider Activity at Caterpillar

In other news, Director David Maclennan bought 375 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average cost of $320.70 per share, for a total transaction of $120,262.50. Following the transaction, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Caterpillar Company 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.