Caterpillar Inc. (NYSE:CAT) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. cut its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 249,000 shares of the industrial products company’s stock after selling 1,888 shares during the quarter. TD Asset Management Inc. owned about 0.05% of Caterpillar worth $90,327,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CAT. Nordea Investment Management AB increased its holdings in Caterpillar by 1.6% in the fourth quarter. Nordea Investment Management AB now owns 635,750 shares of the industrial products company’s stock valued at $231,686,000 after buying an additional 10,212 shares in the last quarter. West Wealth Group LLC acquired a new stake in shares of Caterpillar in the 4th quarter worth approximately $230,000. Cadinha & Co. LLC purchased a new position in Caterpillar in the 4th quarter valued at approximately $11,084,000. Atomi Financial Group Inc. raised its holdings in Caterpillar by 3.9% during the fourth quarter. Atomi Financial Group Inc. now owns 23,193 shares of the industrial products company’s stock worth $8,414,000 after purchasing an additional 871 shares during the last quarter. Finally, Copley Financial Group Inc. purchased a new stake in Caterpillar during the third quarter worth $800,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CAT shares. JPMorgan Chase & Co. cut their price target on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Bank of America reduced their price target on shares of Caterpillar from $452.00 to $414.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Morgan Stanley cut their price objective on Caterpillar from $330.00 to $300.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Truist Financial lowered their target price on Caterpillar from $455.00 to $438.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Raymond James upgraded Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $383.80.

Caterpillar Stock Performance

NYSE:CAT opened at $340.91 on Thursday. The company has a market cap of $162.93 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.87 and a beta of 1.15. The firm’s 50 day moving average is $356.95 and its two-hundred day moving average is $372.24. Caterpillar Inc. has a fifty-two week low of $307.05 and a fifty-two week high of $418.50. 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 earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.17. Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. Analysts expect that Caterpillar Inc. will post 19.86 EPS for the current year.

Insider Activity

In other news, insider Jason Kaiser sold 2,425 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $354.70, for a total value of $860,147.50. Following the transaction, the insider now owns 6,275 shares of the company’s stock, valued at approximately $2,225,742.50. This trade represents a 27.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were acquired at an average cost of $365.57 per share, with a total value of $36,557.00. Following the completion of the transaction, the director now owns 3,053 shares in the company, valued at $1,116,085.21. This trade represents a 3.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

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.