TD Waterhouse Canada Inc. Decreases Stock Position in Caterpillar Inc. (NYSE:CAT)

TD Waterhouse Canada Inc. lowered its position in Caterpillar Inc. (NYSE:CAT) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,492 shares of the industrial products company’s stock after selling 1,248 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Caterpillar were worth $26,310,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tradition Wealth Management LLC boosted its holdings in Caterpillar by 8.8% in the fourth quarter. Tradition Wealth Management LLC now owns 2,696 shares of the industrial products company’s stock valued at $978,000 after purchasing an additional 218 shares during the last quarter. Transce3nd LLC purchased a new stake in Caterpillar during the 4th quarter worth approximately $233,000. Trajan Wealth LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at approximately $4,776,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Caterpillar by 117.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 346 shares of the industrial products company’s stock worth $126,000 after buying an additional 187 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in shares of Caterpillar by 1.0% in the fourth quarter. MML Investors Services LLC now owns 148,102 shares of the industrial products company’s stock worth $53,725,000 after buying an additional 1,459 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Caterpillar

In related news, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the transaction, the insider now directly owns 6,275 shares of the company’s stock, valued at $2,225,742.50. The trade was a 27.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerald Johnson purchased 100 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the acquisition, the director now directly owns 3,053 shares in the company, valued at $1,116,085.21. The trade was a 3.39 % increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Caterpillar from $430.00 to $320.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Raymond James raised Caterpillar from a “market perform” rating to an “outperform” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. reduced their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Truist Financial decreased their target price on Caterpillar from $438.00 to $389.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Evercore ISI upped their price target on Caterpillar from $365.00 to $375.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $361.64.

Caterpillar Trading Up 1.3 %

Caterpillar stock opened at $293.82 on Monday. The firm has a 50-day moving average price of $327.08 and a two-hundred day moving average price of $363.58. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The firm has a market capitalization of $140.42 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.87 and a beta of 1.21. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $5.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Sell-side analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Monday, April 21st will be given a $1.41 dividend. The ex-dividend date is Monday, April 21st. This represents a $5.64 dividend on an annualized basis and a yield of 1.92%. Caterpillar’s dividend payout ratio is presently 25.56%.

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.