TD Waterhouse Canada Inc. Has $24.39 Million Position in Caterpillar Inc. $CAT

TD Waterhouse Canada Inc. increased its stake in Caterpillar Inc. (NYSE:CAT) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,429 shares of the industrial products company’s stock after purchasing an additional 213 shares during the period. TD Waterhouse Canada Inc.’s holdings in Caterpillar were worth $24,393,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aire Advisors LLC boosted its holdings in Caterpillar by 0.3% in the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after acquiring an additional 25 shares during the last quarter. Dumont & Blake Investment Advisors LLC boosted its stake in shares of Caterpillar by 0.5% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock valued at $1,923,000 after purchasing an additional 25 shares during the last quarter. Redwood Wealth Management Group LLC grew its position in shares of Caterpillar by 0.9% during the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock worth $1,036,000 after buying an additional 25 shares during the period. Tsfg LLC raised its stake in shares of Caterpillar by 9.8% during the second quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock worth $108,000 after buying an additional 25 shares during the last quarter. Finally, GSB Wealth Management LLC lifted its holdings in Caterpillar by 1.2% in the second quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock valued at $832,000 after buying an additional 26 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays lifted their target price on shares of Caterpillar from $485.00 to $555.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. HSBC raised Caterpillar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $660.00 in a research note on Wednesday, November 5th. Truist Financial reissued a “buy” rating and issued a $729.00 target price (up previously from $582.00) on shares of Caterpillar in a research note on Thursday, October 30th. Royal Bank Of Canada began coverage on Caterpillar in a research report on Wednesday, October 22nd. They set a “sector perform” rating and a $560.00 target price for the company. Finally, Erste Group Bank upgraded shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $600.94.

Caterpillar Stock Down 1.0%

Shares of Caterpillar stock opened at $546.75 on Wednesday. The company has a market capitalization of $255.87 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. The business has a 50-day moving average of $511.40 and a two-hundred day moving average of $431.86. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.43. Caterpillar had a return on equity of 47.16% and a net margin of 14.34%.The business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. During the same period in the previous year, the firm earned $5.17 EPS. Caterpillar’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. Caterpillar’s dividend payout ratio is currently 31.01%.

Insiders Place Their Bets

In related news, CAO William E. Schaupp sold 1,200 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $572.22, for a total value of $686,664.00. Following the completion of the transaction, the chief accounting officer directly owned 1,323 shares of the company’s stock, valued at approximately $757,047.06. This represents a 47.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total value of $6,034,465.20. Following the transaction, the insider owned 8,649 shares of the company’s stock, valued at approximately $4,874,576.40. This trade represents a 55.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,229 shares of company stock worth $43,323,118 in the last ninety days. 0.33% of the stock is owned by insiders.

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.