Guardian Investment Management Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Guardian Investment Management reduced its stake in Caterpillar by 9.64% during the most recent quarter end. The investment management company now holds a total of 18,651 shares of Caterpillar which is valued at $1,548,033 after selling 1,990 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Caterpillar makes up approximately 1.77% of Guardian Investment Management’s portfolio.

Other Hedge Funds, Including , Asset Management Group boosted its stake in CAT in the latest quarter, The investment management firm added 82 additional shares and now holds a total of 9,489 shares of Caterpillar which is valued at $787,587. Caterpillar makes up approx 0.33% of Asset Management Group’s portfolio. Hilltop Park Associates sold out all of its stake in CAT during the most recent quarter. The investment firm sold 25,000 shares of CAT which is valued $2,081,000.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in CAT in the latest quarter, The investment management firm added 2,964 additional shares and now holds a total of 101,158 shares of Caterpillar which is valued at $8,297,991. Caterpillar makes up approx 0.21% of Mitsubishi Ufj Kokusai Asset Management Ltd.’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. 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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