Toronto Dominion Bank Grows Position in Caterpillar Inc. (NYSE:CAT)

Toronto Dominion Bank boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 165,473 shares of the industrial products company’s stock after acquiring an additional 2,078 shares during the period. Toronto Dominion Bank’s holdings in Caterpillar were worth $64,720,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Caterpillar by 0.7% in the third quarter. Geode Capital Management LLC now owns 10,213,455 shares of the industrial products company’s stock worth $3,987,206,000 after acquiring an additional 67,148 shares during the period. Fisher Asset Management LLC boosted its position in Caterpillar by 2.3% in the third quarter. Fisher Asset Management LLC now owns 8,952,632 shares of the industrial products company’s stock worth $3,501,554,000 after purchasing an additional 205,012 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Caterpillar by 2.0% during the 2nd quarter. Legal & General Group Plc now owns 3,862,443 shares of the industrial products company’s stock valued at $1,286,582,000 after purchasing an additional 75,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Caterpillar by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,627,513 shares of the industrial products company’s stock valued at $1,418,793,000 after purchasing an additional 64,452 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Caterpillar by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,227,378 shares of the industrial products company’s stock worth $1,262,290,000 after buying an additional 8,088 shares during the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Cheryl H. Johnson sold 2,664 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $378.84, for a total value of $1,009,229.76. Following the completion of the transaction, the insider now directly owns 12,951 shares in the company, valued at approximately $4,906,356.84. The trade was a 17.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $380.98, for a total transaction of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. This represents a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,868 shares of company stock valued at $9,679,489 in the last ninety days. Corporate insiders own 0.29% of the company’s stock.

Caterpillar Stock Performance

Caterpillar stock opened at $388.44 on Wednesday. Caterpillar Inc. has a 1-year low of $259.12 and a 1-year high of $418.50. The company’s 50-day moving average is $393.01 and its 200 day moving average is $359.52. The firm has a market capitalization of $187.54 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 1.97 and a beta of 1.10. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.40 and a quick ratio of 0.86.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 EPS for the quarter, missing the consensus estimate of $5.33 by ($0.16). Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business had revenue of $16.11 billion during the quarter, compared to the consensus estimate of $16.37 billion. During the same period last year, the company earned $5.52 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Research analysts forecast that Caterpillar Inc. will post 21.67 EPS for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Tuesday, January 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 26.15%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CAT shares. Citigroup lifted their price target on shares of Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on Caterpillar from $500.00 to $515.00 and gave the stock an “overweight” rating in a research note on Monday. Robert W. Baird lifted their price objective on shares of Caterpillar from $299.00 to $300.00 and gave the company an “underperform” rating in a research report on Thursday, October 31st. Finally, UBS Group upped their target price on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Caterpillar presently has an average rating of “Hold” and an average target price of $374.69.

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.