Einhorn: Caterpillar Inc. (CAT) Not All It's Cracked Up To Be

Parsec Financial Management Inc. now owns 3,898 shares of the company's stock valued at $346,000 after buying an additional 23 shares during the period. ProShare Advisors LLC's holdings in Caterpillar were worth $13,974,000 at the end of the most recent reporting period.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. S. R. Schill & Associates lifted its position in Caterpillar by 0.3% during the 1st quarter. About 4.55 million shares traded or 47.25% up from the average. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 41,225,175 shares of the stock are valued at $5.43 billion. Finally, Balyasny Asset Management LLC lifted its holdings in Caterpillar by 663.8% in the second quarter.

The earnings beat was even more remarkable as analysts had raised their third-quarter estimates by almost 30 percent in the past three months. Among active positions in the latest quarter, 514 holders increased their positions by a total of 30.55 million shares, 525 holders decreased the positions by a total of 34.55 million shares, and 210 holders held their positions. 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. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 900 shares during the last quarter. The firm's 50-day moving average is $94.40 and its 200 day moving average is $85.51. JP Morgan downgraded the shares of WBK in report on Thursday, August 11 to "Neutral" rating. (NYSE:CAT) hit a new 52-week high during mid-day trading on Tuesday following a stronger than expected earnings report.

Excluding restructuring costs, Caterpillar earned $1.95 per share, compared with the average analyst estimate of $1.27 per shares, according to Thomson Reuters I/B/E/S. Caterpillar had a return on equity of 18.52% and a net margin of 0.27%. The firm had revenue of $11.41 billion during the quarter, compared to analyst estimates of $10.69 billion. The business's revenue was up 24.6% on a year-over-year basis. During the same period a year ago, the business posted $0.75 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th.

Among 3 analysts covering Westpac Banking (NYSE:WBK), 2 have Buy rating, 0 Sell and 1 Hold. S&Co owns 2.03% invested in Caterpillar Inc. Deutsche Bank initiated it with "Buy" rating and $98 target in Wednesday, September 7 report. 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. UBS upgraded the shares of CAT in report on Monday, September 18 to "Buy" rating. Goldman Sachs Group, Inc. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the stock. Caterpillar presently has a consensus rating of "Hold" and an average price target of $80.78. If you are accessing this article on another domain, it was stolen and reposted in violation of global copyright & trademark law. "(CAT) Price Target Increased to $145.00 by Analysts at Stifel Nicolaus" was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Week Herald and is the property of of Week Herald. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $93.52, for a total value of $88,844.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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