Caterpillar Inc. (NYSE:CAT) Shares Sold by Comerica Bank

Comerica Bank decreased its position in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,883 shares of the industrial products company's stock after selling 3,124 shares during the period. Comerica Bank's holdings in Caterpillar were worth $39,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CAT. Norges Bank purchased a new position in Caterpillar during the 4th quarter valued at about $2,184,364,000. Capital Research Global Investors increased its holdings in Caterpillar by 69.3% during the fourth quarter. Capital Research Global Investors now owns 2,924,054 shares of the industrial products company's stock valued at $1,060,730,000 after buying an additional 1,196,861 shares during the period. Raymond James Financial Inc. bought a new position in Caterpillar in the fourth quarter worth approximately $353,231,000. Proficio Capital Partners LLC lifted its holdings in Caterpillar by 50,072.7% during the fourth quarter. Proficio Capital Partners LLC now owns 804,770 shares of the industrial products company's stock worth $291,938,000 after buying an additional 803,166 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Caterpillar by 11.8% in the 4th quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock valued at $2,483,937,000 after acquiring an additional 724,477 shares during the period. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CAT shares. Truist Financial reiterated a "buy" rating and issued a $396.00 target price (up previously from $389.00) on shares of Caterpillar in a research note on Thursday. Wedbush upgraded shares of Caterpillar to an "outperform" rating in a research note on Monday, February 3rd. Baird R W upgraded Caterpillar from a "strong sell" rating to a "hold" rating in a report on Thursday. UBS Group upgraded Caterpillar from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Finally, Evercore ISI increased their price target on Caterpillar from $365.00 to $375.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $366.50.

Caterpillar Price Performance

CAT stock traded down $0.64 during midday trading on Monday, reaching $323.04. The stock had a trading volume of 1,773,403 shares, compared to its average volume of 2,627,603. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $418.50. The company has a market cap of $154.39 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.87 and a beta of 1.21. The company's fifty day simple moving average is $318.18 and its 200 day simple moving average is $357.27. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 1.40.

Caterpillar (NYSE:CAT - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $4.25 earnings per share for the quarter, missing analysts' consensus estimates of $4.35 by ($0.10). Caterpillar had a return on equity of 58.18% and a net margin of 16.65%. The business had revenue of $14.25 billion during the quarter, compared to analysts' expectations of $14.64 billion. During the same period last year, the business earned $5.60 earnings per share. The company's revenue for the quarter was down 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 21st will be given a dividend of $1.41 per share. The ex-dividend date is Monday, April 21st. This represents a $5.64 annualized dividend and a dividend yield of 1.75%. Caterpillar's payout ratio is 25.56%.

Insider Buying and Selling

In related news, Director Gerald Johnson acquired 100 shares of the stock in a transaction dated Tuesday, February 4th. The stock was 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 represents a 3.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jason Kaiser sold 2,425 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $354.70, for a total transaction of $860,147.50. Following the completion of the transaction, the insider now owns 6,275 shares of the company's stock, valued at $2,225,742.50. This represents a 27.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Caterpillar 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.