Private Bank Trust Co Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Private Bank Trust Co reduced its stake in Caterpillar by 1.01% during the most recent quarter end. The investment management company now holds a total of 26,829 shares of Caterpillar which is valued at $2,333,318 after selling 275 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Caterpillar makes up approximately 0.36% of Private Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Howland Capital Management boosted its stake in CAT in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 30,831 shares of Caterpillar which is valued at $2,681,372. Caterpillar makes up approx 0.25% of Howland Capital Management’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in CAT by selling 78,386 shares or 56.81% in the most recent quarter. The Hedge Fund company now holds 59,592 shares of CAT which is valued at $5,257,206. Caterpillar makes up approx 0.11% of Oregon Public Employees Retirement Fund’s portfolio. Contravisory Investment Management sold out all of its stake in CAT during the most recent quarter. The investment firm sold 28 shares of CAT which is valued $2,470.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.

Caterpillar closed down -0.75 points or -0.85% at $87.47 with 64,71,919 shares getting traded on Tuesday. Post opening the session at $89.1, the shares hit an intraday low of $87.26 and an intraday high of $89.32 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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. 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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