Duquesne Family Office adds Caterpillar (CAT) to its portfolio

Caterpillar (CAT) : Duquesne Family Office added new position in Caterpillar during the most recent quarter end. The investment management firm now holds 330,000 shares of Caterpillar which is valued at $27,390,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.Caterpillar makes up approximately 2.30% of Duquesne Family Office’s portfolio.

Other Hedge Funds, Including , Waterfront Capital Partners sold out all of its stake in CAT during the most recent quarter. The investment firm sold 85,000 shares of CAT which is valued $7,055,000.Edmond De Rothschild Asset Management (france) boosted its stake in CAT in the latest quarter, The investment management firm added 40,000 additional shares and now holds a total of 158,400 shares of Caterpillar which is valued at $13,147,200. Caterpillar makes up approx 0.59% of Edmond De Rothschild Asset Management (france)’s portfolio. Sanders Morris Harris sold out all of its stake in CAT during the most recent quarter. The investment firm sold 3,517 shares of CAT which is valued $295,780.Argus Investors’ Counsel boosted its stake in CAT in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 60,390 shares of Caterpillar which is valued at $5,078,799. Caterpillar makes up approx 2.06% of Argus Investors’ Counsel’s portfolio.

Caterpillar closed down -0.5 points or -0.61% at $81.45 with 41,02,195 shares getting traded on Thursday. Post opening the session at $81.59, the shares hit an intraday low of $80.57 and an intraday high of $82 and the price fluctuated in this range throughout the day.Shares ended Thursday 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. 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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