Zweig-dimenna Associates buys $16,310,046 stake in Caterpillar (CAT)

Caterpillar (CAT) : Zweig-dimenna Associates scooped up 28,270 additional shares in Caterpillar during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 195,940 shares of Caterpillar which is valued at $16,310,046.Caterpillar makes up approximately 1.58% of Zweig-dimenna Associates’s portfolio.

Other Hedge Funds, Including , Td Asset Management Inc boosted its stake in CAT in the latest quarter, The investment management firm added 26,744 additional shares and now holds a total of 959,702 shares of Caterpillar which is valued at $79,232,997. Caterpillar makes up approx 0.14% of Td Asset Management Inc’s portfolio. Kalos Management sold out all of its stake in CAT during the most recent quarter. The investment firm sold 5,815 shares of CAT which is valued $477,004.First Citizens Bank Trust Co boosted its stake in CAT in the latest quarter, The investment management firm added 167 additional shares and now holds a total of 4,633 shares of Caterpillar which is valued at $383,427. Caterpillar makes up approx 0.03% of First Citizens Bank Trust Co’s portfolio.Tiaa Cref Trust Co Fsbmo reduced its stake in CAT by selling 1,381 shares or 5.93% in the most recent quarter. The Hedge Fund company now holds 21,917 shares of CAT which is valued at $1,739,771. Caterpillar makes up approx 0.02% of Tiaa Cref Trust Co Fsbmo’s portfolio.

Caterpillar opened for trading at $83 and hit $84.275 on the upside on Monday, eventually ending the session at $84.15, with a gain of 1.39% or 1.15 points. The heightened volatility saw the trading volume jump to 40,56,023 shares. Company has a market cap of $49,163 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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