Comerica Bank Sells 4,265 Shares of Caterpillar Inc. $CAT

Comerica Bank trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,837 shares of the industrial products company’s stock after selling 4,265 shares during the quarter. Comerica Bank’s holdings in Caterpillar were worth $45,729,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kilter Group LLC bought a new position in shares of Caterpillar during the second quarter worth approximately $27,000. Marquette Asset Management LLC boosted its stake in shares of Caterpillar by 1,060.0% in the third quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after buying an additional 53 shares during the period. RiverPark Advisors LLC acquired a new stake in Caterpillar during the second quarter worth approximately $32,000. Joseph Group Capital Management acquired a new stake in Caterpillar during the third quarter worth approximately $32,000. Finally, Vermillion & White Wealth Management Group LLC increased its stake in Caterpillar by 107.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 89 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 46 shares during the period. Institutional investors and hedge funds own 70.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CAT shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Caterpillar in a research report on Monday, December 29th. Jefferies Financial Group raised their price target on Caterpillar from $785.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Wells Fargo & Company upped their price objective on shares of Caterpillar from $756.00 to $870.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Oppenheimer increased their price objective on shares of Caterpillar from $729.00 to $817.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Finally, Evercore raised their target price on shares of Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a report on Monday, November 17th. Sixteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $730.50.

Caterpillar Trading Down 1.0%

Shares of CAT opened at $693.89 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.94 and a current ratio of 1.44. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $789.81. The firm has a market cap of $322.86 billion, a price-to-earnings ratio of 36.87, a PEG ratio of 1.65 and a beta of 1.54. The business’s fifty day moving average is $693.92 and its 200-day moving average is $583.93.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The business had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the prior year, the company earned $5.14 EPS. Caterpillar’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $575.06, for a total value of $5,750,600.00. Following the completion of the transaction, the chief financial officer owned 45,460 shares of the company’s stock, valued at approximately $26,142,227.60. This represents a 18.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 22,656 shares of Caterpillar stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $720.11, for a total transaction of $16,314,812.16. Following the sale, the insider directly owned 79,953 shares in the company, valued at $57,574,954.83. This trade represents a 22.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 135,950 shares of company stock valued at $94,327,990. 0.33% of the stock is owned by company insiders.

Caterpillar Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.