Caterpillar, Inc. (CAT) Shares Sold by Comerica Bank

Comerica Bank lessened its stake in Caterpillar, Inc. (NYSE:CAT) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 154,159 shares of the industrial products company’s stock after selling 472 shares during the period. Comerica Bank’s holdings in Caterpillar were worth $21,041,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Caterpillar by 6.1% during the 2nd quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company’s stock worth $4,430,058,000 after acquiring an additional 2,377,623 shares during the last quarter. FMR LLC boosted its stake in shares of Caterpillar by 11.7% during the 2nd quarter. FMR LLC now owns 19,613,661 shares of the industrial products company’s stock worth $2,107,684,000 after acquiring an additional 2,052,300 shares during the last quarter. Morgan Stanley boosted its stake in shares of Caterpillar by 15.1% during the 1st quarter. Morgan Stanley now owns 10,398,677 shares of the industrial products company’s stock worth $964,579,000 after acquiring an additional 1,365,856 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Caterpillar by 8.1% during the 1st quarter. Geode Capital Management LLC now owns 5,575,420 shares of the industrial products company’s stock worth $516,423,000 after acquiring an additional 419,191 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Caterpillar by 10.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 3,058,115 shares of the industrial products company’s stock worth $328,625,000 after acquiring an additional 301,739 shares during the last quarter. 68.61% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the stock. Vetr upgraded shares of Caterpillar from a “strong sell” rating to a “buy” rating and set a $120.03 price target on the stock in a research note on Thursday, August 10th. ValuEngine cut shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. UBS set a $155.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Tuesday. Wells Fargo & Company set a $150.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research note on Monday, October 16th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Caterpillar from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $136.28.

In other Caterpillar news, insider Thomas A. Pellette sold 24,547 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $135.69, for a total value of $3,330,782.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bradley M. Halverson sold 17,210 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $137.33, for a total transaction of $2,363,449.30. Following the completion of the sale, the chief financial officer now owns 7,814 shares in the company, valued at approximately $1,073,096.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,989 shares of company stock worth $7,235,850. Corporate insiders own 0.14% of the company’s stock.

Caterpillar, Inc. (CAT) opened at $140.34 on Thursday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.04 and a current ratio of 1.44. Caterpillar, Inc. has a one year low of $90.34 and a one year high of $145.19. The firm has a market cap of $83,374.00, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.12 and a beta of 1.29.

Caterpillar (NYSE:CAT) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.27 by $0.68. The business had revenue of $11.41 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Caterpillar had a net margin of 2.09% and a return on equity of 23.22%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.85 EPS. research analysts expect that Caterpillar, Inc. will post 6.4 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 23rd were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, October 20th. Caterpillar’s payout ratio is currently 216.67%.

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Institutional Ownership by Quarter for Caterpillar (NYSE:CAT)

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