Toronto Dominion Bank Acquires 2,078 Shares of Caterpillar Inc. (NYSE:CAT)

Toronto Dominion Bank boosted its holdings in Caterpillar Inc. (NYSE:CAT) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 165,473 shares of the industrial products company’s stock after acquiring an additional 2,078 shares during the quarter. Toronto Dominion Bank’s holdings in Caterpillar were worth $64,720,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Financial Connections Group Inc. purchased a new stake in shares of Caterpillar in the second quarter valued at about $28,000. Fairscale Capital LLC purchased a new stake in Caterpillar in the 2nd quarter valued at about $36,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar during the 3rd quarter worth approximately $36,000. POM Investment Strategies LLC boosted its stake in shares of Caterpillar by 2,160.0% in the 2nd quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company’s stock worth $38,000 after buying an additional 108 shares during the last quarter. Finally, Kimelman & Baird LLC grew its holdings in shares of Caterpillar by 42.9% in the third quarter. Kimelman & Baird LLC now owns 100 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In other news, insider Lange Bob De sold 12,657 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total value of $5,192,534.25. Following the sale, the insider now directly owns 71,107 shares of the company’s stock, valued at approximately $29,171,646.75. This represents a 15.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the transaction, the chief accounting officer now owns 1,686 shares of the company’s stock, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,868 shares of company stock valued at $9,679,489. Corporate insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent research reports. StockNews.com raised Caterpillar from a “hold” rating to a “buy” rating in a report on Tuesday. Citigroup increased their target price on Caterpillar from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI lowered Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price objective for the company from $321.00 to $365.00 in a research note on Wednesday, November 13th. Bank of America raised their target price on Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Finally, UBS Group increased their price target on shares of Caterpillar from $285.00 to $295.00 and gave the stock a “sell” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Caterpillar has a consensus rating of “Hold” and a consensus price target of $374.69.

Caterpillar Price Performance

CAT opened at $388.44 on Wednesday. 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 Inc. has a 1 year low of $259.12 and a 1 year high of $418.50. The stock’s 50 day simple moving average is $393.01 and its 200 day simple moving average is $359.52. The firm has a market cap of $187.54 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 1.97 and a beta of 1.10.

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

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Tuesday, January 21st will be given a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio is 26.15%.

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.