Callahan Advisors Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Callahan Advisors reduced its stake in Caterpillar by 3.21% during the most recent quarter end. The investment management company now holds a total of 14,767 shares of Caterpillar which is valued at $1,294,623 after selling 489 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Caterpillar makes up approximately 0.33% of Callahan Advisors’s portfolio.

Other Hedge Funds, Including , Charter Trust Co reduced its stake in CAT by selling 65 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 76,631 shares of CAT which is valued at $6,718,240. Caterpillar makes up approx 0.78% of Charter Trust Co’s portfolio. Toth Financial Advisory Corp added CAT to its portfolio by purchasing 2,293 company shares during the most recent quarter which is valued at $199,422. Caterpillar makes up approx 0.06% of Toth Financial Advisory Corp’s portfolio.Centurylink Investment Management Co reduced its stake in CAT by selling 6,435 shares or 37.23% in the most recent quarter. The Hedge Fund company now holds 10,848 shares of CAT which is valued at $948,875. Caterpillar makes up approx 0.33% of Centurylink Investment Management Co’s portfolio.Creative Planning boosted its stake in CAT in the latest quarter, The investment management firm added 714 additional shares and now holds a total of 89,720 shares of Caterpillar which is valued at $7,847,808. Caterpillar makes up approx 0.05% of Creative Planning’s portfolio.

Caterpillar opened for trading at $87.83 and hit $88.42 on the upside on Friday, eventually ending the session at $87.67, with a gain of 0.80% or 0.7 points. The heightened volatility saw the trading volume jump to 36,01,023 shares. Company has a market cap of $51,220 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.

Investors should note that on Oct 12, 2016, Caterpillar announced a cash dividend of $0.7700. The company’s management has announced Oct 20, 2016 as the ex-dividend date and fixed the record date on Oct 24, 2016. The payable date has been fixed on Nov 19, 2016.

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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