ProShare Advisors LLC Sells 35493 Shares of Caterpillar, Inc. (CAT)

Caterpillar shares soar more than 7% on strong earnings beat and yet another raised forecast

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAT.

Caterpillar Inc. shares were unchanged in premarket trading Wednesday. FMR LLC now owns 19,613,661 shares of the industrial products company's stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the period. Motco now owns 989 shares of the industrial products company's stock valued at $106,000 after acquiring an additional 718 shares during the last quarter. Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company's stock valued at $673,351,000 after buying an additional 1,047,922 shares during the period. Vanguard Group Inc. grew its stake in shares of Caterpillar by 6.1% during the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company's stock valued at $100,000 after buying an additional 25 shares during the period. Finally, Tarbox Family Office Inc. lifted its position in Caterpillar by 0.4% during the 2nd quarter. The third largest holder is Blackrock Inc., which now holds $4.61 billion worth of this stock and that ownership represents almost 5.63% of its market capitalization. The firm had revenue of $11.41 billion during the quarter, compared to analysts' expectations of $10.69 billion. Moreover, Navellier & Associates Inc has 0.02% invested in the company for 50,836 shares. Northstar Group Inc. lifted its position in Caterpillar by 0.3% during the 2nd quarter. Caterpillar Inc. has $150 highest and $28 lowest target. (NYSE:CAT) have caught the attention of investors. The stock had a trading volume of 890,079 shares.

Caterpillar Inc. also notes that it is expecting revenue for 2017 to be around $44 billion.

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Caterpillar (NYSE:CAT) last released its quarterly earnings results on Tuesday, October 24th. Comparatively, Caterpillar Inc. posted earnings of $1.02 per share in the same quarter a year ago. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. This is up 25% from its revenue of $9.16 billion that was reported in the third quarter of 2016. During the same period a year ago, the business posted $0.75 earnings per share. Analysts expect EPS of $8.95. Stockholders of record on Monday, October 23rd will be given a dividend of $0.78 per share.

Among 3 analysts covering Westpac Banking (NYSE:WBK), 2 have Buy rating, 0 Sell and 1 Hold. Citigroup Inc. lifted their price objective on Caterpillar from $125.00 to $133.00 and gave the company a "neutral" rating in a research report on Friday, October 13th. Caterpillar's dividend payout ratio is 2,080.00%. BidaskClub raised shares of Caterpillar from a "hold" rating to a "buy" rating in a research report on Saturday, July 1st. Vetr raised shares of Caterpillar from a "sell" rating to a "hold" rating and set a $90.02 target price on the stock in a report on Monday. The stock presently has an average rating of "Hold" and a consensus price target of $121.48. BMO Capital Markets reissued a "buy" rating and set a $130.00 price target on shares of Caterpillar in a research report on Friday, September 8th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and fourteen have given a buy rating to the company's stock. The brokerage presently has a "hold" rating on the industrial products company's stock.

In related news, insider Suzette M. Long sold 13,859 shares of Caterpillar stock in a transaction dated Friday, August 4th. (CAT)'s shares. The total value of these holdings, in millions, is $54,706.

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Institutional owners hold 71.10% stake while Insiders ownership held at 0.16% in the company. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Caterpillar Inc.is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

We are skeptical. We continue to believe that the biggest drivers of CAT's business are mining, where the industry is plagued by overcapacity from the China-led super-cycle in steel production over the past decade; the energy sector, where oversupply is leading to materially slower investment; and construction, where we are already at or near the cycle peak. (NYSE:CAT) on Friday, March 18 with "Hold" rating.

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