Wilbanks Smith Thomas Asset Management Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Wilbanks Smith Thomas Asset Management reduced its stake in Caterpillar by 0.65% during the most recent quarter end. The investment management company now holds a total of 73,308 shares of Caterpillar which is valued at $5,697,498 after selling 478 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Caterpillar makes up approximately 0.68% of Wilbanks Smith Thomas Asset Management’s portfolio.

Caterpillar opened for trading at $77.35 and hit $78.07 on the upside on Monday, eventually ending the session at $77.84, with a gain of 0.15% or 0.12 points. The heightened volatility saw the trading volume jump to 33,30,126 shares. Company has a market cap of $45,328 M.

Other Hedge Funds, Including , Palladium Partners reduced its stake in CAT by selling 380 shares or 1.31% in the most recent quarter. The Hedge Fund company now holds 28,550 shares of CAT which is valued at $2,218,906. Caterpillar makes up approx 0.20% of Palladium Partners’s portfolio.Concannon Wealth Management reduced its stake in CAT by selling 92 shares or 9.47% in the most recent quarter. The Hedge Fund company now holds 879 shares of CAT which is valued at $68,843. Caterpillar makes up approx 0.07% of Concannon Wealth Management’s portfolio.Carl Domino Inc reduced its stake in CAT by selling 1,349 shares or 28.73% in the most recent quarter. The Hedge Fund company now holds 3,346 shares of CAT which is valued at $262,059. Caterpillar makes up approx 0.23% of Carl Domino Inc’s portfolio.Stewart Patten Co boosted its stake in CAT in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 4,859 shares of Caterpillar which is valued at $384,687. Caterpillar makes up approx 0.08% of Stewart Patten Co’s portfolio.

On the company’s financial health, Caterpillar reported $0.67 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 22, 2016. Analyst had a consensus of $0.68. The company had revenue of $9461.00 million for the quarter, compared to analysts expectations of $9454.87 million. The company’s revenue was down -25.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.72 EPS.

Many Wall Street Analysts have commented on Caterpillar. Goldman Upgraded Caterpillar on Apr 25, 2016 to ” Neutral”, Price Target of the shares are set at $78.Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 70 from a previous price target of $68 .Company shares were Reiterated by UBS on Apr 25, 2016 to “Neutral”, Firm has raised the Price Target to $ 76 from a previous price target of $61 .

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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