Adams Asset Advisors Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Adams Asset Advisors reduced its stake in Caterpillar by 1.43% during the most recent quarter end. The investment management company now holds a total of 81,268 shares of Caterpillar which is valued at $7,067,878 after selling 1,180 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Caterpillar makes up approximately 0.98% of Adams Asset Advisors’s portfolio.

Other Hedge Funds, Including , Edge Wealth Management sold out all of its stake in CAT during the most recent quarter. The investment firm sold 300 shares of CAT which is valued $26,091.Carroll Financial Associates reduced its stake in CAT by selling 88 shares or 2.97% in the most recent quarter. The Hedge Fund company now holds 2,879 shares of CAT which is valued at $253,985. Caterpillar makes up approx 0.04% of Carroll Financial Associates’s portfolio.First American Trust Fsb boosted its stake in CAT in the latest quarter, The investment management firm added 8,608 additional shares and now holds a total of 43,658 shares of Caterpillar which is valued at $3,903,898. Caterpillar makes up approx 1.23% of First American Trust Fsb’s portfolio.West Oak Capital boosted its stake in CAT in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 8,855 shares of Caterpillar which is valued at $791,814. Caterpillar makes up approx 0.55% of West Oak Capital’s portfolio.

Caterpillar closed down -0.75 points or -0.85% at $87.47 with 64,71,919 shares getting traded on Tuesday. Post opening the session at $89.1, the shares hit an intraday low of $87.26 and an intraday high of $89.32 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Caterpillar was Upgraded by Goldman to ” Buy” on Oct 11, 2016. Deutsche Bank Initiated Caterpillar on Sep 7, 2016 to “Buy”, Price Target of the shares are set at $98.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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