TD Asset Management Inc Has $94.88 Million Stake in Caterpillar Inc. (NYSE:CAT)

TD Asset Management Inc cut its stake in Caterpillar Inc. (NYSE:CAT) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 258,943 shares of the industrial products company’s stock after selling 2,813 shares during the quarter. TD Asset Management Inc’s holdings in Caterpillar were worth $94,884,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Graham Capital Management L.P. bought a new stake in Caterpillar in the 3rd quarter worth about $246,000. Bath Savings Trust Co increased its position in Caterpillar by 3.9% in the fourth quarter. Bath Savings Trust Co now owns 3,082 shares of the industrial products company’s stock worth $911,000 after buying an additional 117 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Caterpillar by 14.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,415 shares of the industrial products company’s stock valued at $418,000 after buying an additional 175 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Caterpillar by 1.0% during the 4th quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock worth $1,037,000 after acquiring an additional 36 shares during the period. Finally, Winthrop Advisory Group LLC increased its holdings in Caterpillar by 10.9% in the 4th quarter. Winthrop Advisory Group LLC now owns 2,081 shares of the industrial products company’s stock worth $615,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan bought 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the transaction, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Lange Bob De sold 21,847 shares of Caterpillar stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the sale, the insider now directly owns 71,115 shares of the company’s stock, valued at $25,380,943.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Maclennan purchased 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $337.39 per share, with a total value of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares of the company’s stock, valued at approximately $1,935,943.82. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 24,863 shares of company stock valued at $8,837,714. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAT. Oppenheimer reiterated a “market perform” rating on shares of Caterpillar in a research report on Thursday, April 18th. Stifel Nicolaus cut shares of Caterpillar from a “buy” rating to a “hold” rating and increased their target price for the stock from $293.00 to $350.00 in a research note on Friday, April 26th. HSBC boosted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. The Goldman Sachs Group upped their target price on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, StockNews.com upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Caterpillar currently has an average rating of “Hold” and an average target price of $329.63.

Caterpillar Trading Up 1.5 %

NYSE CAT traded up $5.43 during trading on Thursday, hitting $363.23. The company had a trading volume of 1,907,822 shares, compared to its average volume of 2,708,434. The company’s fifty day moving average is $337.81 and its 200-day moving average is $333.21. The company has a market cap of $177.64 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.12. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41. Caterpillar Inc. has a one year low of $223.76 and a one year high of $382.01.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $16.07 billion. On average, sell-side analysts predict that Caterpillar Inc. will post 21.74 earnings per share for the current year.

Caterpillar declared that its board has authorized a share repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, July 22nd will be issued a $1.41 dividend. This is an increase from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date is Monday, July 22nd. This represents a $5.64 dividend on an annualized basis and a yield of 1.55%. Caterpillar’s dividend payout ratio is currently 23.48%.

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.