Matrix Asset Advisors Incny Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Matrix Asset Advisors Incny reduced its stake in Caterpillar by 1.93% during the most recent quarter end. The investment management company now holds a total of 124,781 shares of Caterpillar which is valued at $10,235,785 after selling 2,461 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Caterpillar makes up approximately 1.91% of Matrix Asset Advisors Incny’s portfolio.

Other Hedge Funds, Including , Pennsylvania Trust Co boosted its stake in CAT in the latest quarter, The investment management firm added 109 additional shares and now holds a total of 12,471 shares of Caterpillar which is valued at $993,814. Caterpillar makes up approx 0.08% of Pennsylvania Trust Co’s portfolio.Gierl Augustine Investment Management Inc boosted its stake in CAT in the latest quarter, The investment management firm added 1,950 additional shares and now holds a total of 40,283 shares of Caterpillar which is valued at $3,210,152. Caterpillar makes up approx 3.38% of Gierl Augustine Investment Management Inc’s portfolio.

Caterpillar opened for trading at $83 and hit $83.79 on the upside on Monday, eventually ending the session at $83.44, with a gain of 1.07% or 0.88 points. The heightened volatility saw the trading volume jump to 35,44,827 shares. Company has a market cap of $48,748 M.

On the company’s financial health, Caterpillar reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.96. The company had revenue of $10342.00 million for the quarter, compared to analysts expectations of $10131.20 million. The company’s revenue was down -16.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.27 EPS.

Many Wall Street Analysts have commented on Caterpillar. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .

Caterpillar Inc. is a manufacturer of construction and mining equipment diesel and natural gas engines industrial gas turbines and diesel-electric locomotives. The Company principally operates through its three product segments: Resource Industries Construction Industries and Energy & Transportation. The Company also provides financing and related services through its Financial Products segment. It offers its products under the brand names Caterpillar CAT design versions of CAT and Caterpillar Electro-Motive FG Wilson MaK MWM Perkins Progress Rail SEM and Solar Turbines. It operates parts distribution centers at various locations including Morton Illinois; Arvin California; Denver Colorado; Miami Florida; Atlanta Georgia; St. Paul Minnesota and Dubai United Arab Emirates among others. Its subsidiaries include Caterpillar Life Insurance Company Cat Financial and Caterpillar Product Services Corporation (CPSC) among others.

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