Brave Asset Management Inc Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Brave Asset Management Inc reduced its stake in Caterpillar by 7.9% during the most recent quarter end. The investment management company now holds a total of 18,238 shares of Caterpillar which is valued at $1,518,131 after selling 1,565 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Caterpillar makes up approximately 0.99% of Brave Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Buckhead Capital Management boosted its stake in CAT in the latest quarter, The investment management firm added 5,525 additional shares and now holds a total of 93,495 shares of Caterpillar which is valued at $7,801,223. Caterpillar makes up approx 1.37% of Buckhead Capital Management’s portfolio.Rand Wealth boosted its stake in CAT in the latest quarter, The investment management firm added 3,507 additional shares and now holds a total of 74,641 shares of Caterpillar which is valued at $6,162,361. Caterpillar makes up approx 0.81% of Rand Wealth’s portfolio.Firstmerit Bank N A Trustee reduced its stake in CAT by selling 126 shares or 0.45% in the most recent quarter. The Hedge Fund company now holds 28,085 shares of CAT which is valued at $2,238,094. Caterpillar makes up approx 0.18% of Firstmerit Bank N A Trustee’s portfolio.

Caterpillar opened for trading at $84.41 and hit $84.73 on the upside on Wednesday, eventually ending the session at $84.41, with a gain of 0.14% or 0.12 points. The heightened volatility saw the trading volume jump to 29,83,391 shares. Company has a market cap of $49,315 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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