Exxonmobil Investment Management Inc Tx Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Exxonmobil Investment Management Inc Tx reduced its stake in Caterpillar by 1.3% during the most recent quarter end. The investment management company now holds a total of 149,175 shares of Caterpillar which is valued at $13,197,512 after selling 1,960 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Caterpillar makes up approximately 0.28% of Exxonmobil Investment Management Inc Tx’s portfolio.

Other Hedge Funds, Including , Stillwater Investment Management boosted its stake in CAT in the latest quarter, The investment management firm added 34 additional shares and now holds a total of 16,506 shares of Caterpillar which is valued at $1,475,967. Caterpillar makes up approx 0.80% of Stillwater Investment Management’s portfolio.Private Asset Management Inc reduced its stake in CAT by selling 252 shares or 7.81% in the most recent quarter. The Hedge Fund company now holds 2,975 shares of CAT which is valued at $266,025. Caterpillar makes up approx 0.04% of Private Asset Management Inc’s portfolio. Hefty Wealth Partners added CAT to its portfolio by purchasing 400 company shares during the most recent quarter which is valued at $35,768. Caterpillar makes up approx 0.03% of Hefty Wealth Partners’s portfolio.Washington Trust Bank boosted its stake in CAT in the latest quarter, The investment management firm added 89 additional shares and now holds a total of 4,089 shares of Caterpillar which is valued at $365,638. Caterpillar makes up approx 0.09% of Washington Trust Bank’s portfolio.

Caterpillar closed down -0.82 points or -0.92% at $88.47 with 37,74,152 shares getting traded on Friday. Post opening the session at $89.52, the shares hit an intraday low of $87.94 and an intraday high of $89.74 and the price fluctuated in this range throughout the day.Shares ended Friday 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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