Charter Trust Co Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Charter Trust Co reduced its stake in Caterpillar by 0.08% during the most recent quarter end. The investment management company now holds a total of 76,631 shares of Caterpillar which is valued at $6,718,240 after selling 65 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Caterpillar makes up approximately 0.78% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , National Pension Service boosted its stake in CAT in the latest quarter, The investment management firm added 30,246 additional shares and now holds a total of 379,939 shares of Caterpillar which is valued at $33,309,252. Caterpillar makes up approx 0.27% of National Pension Service’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. Carl Domino Inc sold out all of its stake in CAT during the most recent quarter. The investment firm sold 3,047 shares of CAT which is valued $266,521.Thompson Rubinstein Investment Management Inc Or reduced its stake in CAT by selling 1,200 shares or 9.59% in the most recent quarter. The Hedge Fund company now holds 11,308 shares of CAT which is valued at $997,592. Caterpillar makes up approx 0.38% of Thompson Rubinstein Investment Management Inc Or’s portfolio.Franklin Street Advisors Inc Nc reduced its stake in CAT by selling 175 shares or 2.33% in the most recent quarter. The Hedge Fund company now holds 7,328 shares of CAT which is valued at $655,270. Caterpillar makes up approx 0.12% of Franklin Street Advisors Inc Nc’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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