TD Private Client Wealth LLC Has $956,000 Stock Holdings in Caterpillar Inc. $CAT

Key Points

• TD Private Client Wealth LLC reduced its stake in Caterpillar Inc. by 18.4%, owning 2,463 shares worth approximately $956,000 at the end of the last quarter.
• Caterpillar's Chairman sold 17,166 shares for nearly $7.94 million, indicating a 3.56% decrease in his ownership.
• Analysts have varied price targets for Caterpillar, with Bank of America raising its target from $495 to $517 and Jefferies maintaining a buy rating with a $500 target.

TD Private Client Wealth LLC cut its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 18.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,463 shares of the industrial products company's stock after selling 557 shares during the period. TD Private Client Wealth LLC's holdings in Caterpillar were worth $956,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Compass Financial Services Inc increased its stake in shares of Caterpillar by 49.2% during the 1st quarter. Compass Financial Services Inc now owns 94 shares of the industrial products company's stock worth $31,000 after purchasing an additional 31 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in shares of Caterpillar during the 2nd quarter worth about $32,000. Curat Global LLC acquired a new position in Caterpillar in the 1st quarter valued at about $33,000. Redmont Wealth Advisors LLC acquired a new position in Caterpillar in the 1st quarter valued at about $33,000. Finally, Fiduciary Wealth Partners LLC acquired a new position in Caterpillar in the 1st quarter valued at about $45,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $462.65, for a total transaction of $7,941,849.90. Following the completion of the sale, the chairman owned 465,339 shares of the company's stock, valued at approximately $215,289,088.35. This represents a 3.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jason Kaiser sold 2,161 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $417.70, for a total transaction of $902,649.70. Following the sale, the insider directly owned 8,632 shares of the company's stock, valued at approximately $3,605,586.40. This trade represents a 20.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,819 shares of company stock valued at $16,885,492. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $466.06 on Friday. The company's 50 day moving average price is $430.98 and its two-hundred day moving average price is $373.47. Caterpillar Inc. has a 12-month low of $267.30 and a 12-month high of $485.34. The firm has a market cap of $218.34 billion, a PE ratio of 23.71, a PEG ratio of 2.82 and a beta of 1.41. The company has a quick ratio of 0.81, a current ratio of 1.34 and a debt-to-equity ratio of 1.50.

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

Analysts Set New Price Targets

A number of brokerages recently commented on CAT. Citigroup reiterated a "buy" rating on shares of Caterpillar in a research note on Tuesday. Oppenheimer decreased their price target on shares of Caterpillar from $493.00 to $480.00 and set an "outperform" rating on the stock in a research note on Friday, August 29th. Jefferies Financial Group reiterated a "buy" rating and issued a $500.00 price target on shares of Caterpillar in a research note on Friday, August 29th. Bank of America upped their price target on shares of Caterpillar from $495.00 to $517.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Finally, Truist Financial upped their price target on shares of Caterpillar from $414.00 to $507.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Caterpillar currently has a consensus rating of "Moderate Buy" and a consensus target price of $464.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.