Caterpillar (CAT) : New Jersey Better Educational Savings Trust added new position in Caterpillar during the most recent quarter end. The investment management firm now holds 11,000 shares of Caterpillar which is valued at $902,330 , the company said in a statement filed on Aug 2, 2016 with the SEC.Caterpillar makes up approximately 0.58% of New Jersey Better Educational Savings Trust’s portfolio.
Other Hedge Funds, Including , Northeast Investment Management reduced its stake in CAT by selling 640 shares or 3.31% in the most recent quarter. The Hedge Fund company now holds 18,685 shares of CAT which is valued at $1,532,731. Caterpillar makes up approx 0.15% of Northeast Investment Management’s portfolio.Clarkston Capital Partners reduced its stake in CAT by selling 195 shares or 0.95% in the most recent quarter. The Hedge Fund company now holds 20,400 shares of CAT which is valued at $1,619,352. Caterpillar makes up approx 0.08% of Clarkston Capital Partners’s portfolio.Iowa State Bank boosted its stake in CAT in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 2,770 shares of Caterpillar which is valued at $214,315. Caterpillar makes up approx 0.11% of Iowa State Bank’s portfolio.
Caterpillar opened for trading at $83 and hit $83.79 on the upside on Monday, eventually ending the session at $83.44, with a gain of 1.07% or 0.88 points. The heightened volatility saw the trading volume jump to 35,44,827 shares. Company has a market cap of $48,748 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.
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.