Hanlon Investment Management Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Hanlon Investment Management reduced its stake in Caterpillar by 39.88% during the most recent quarter end. The investment management company now holds a total of 66,864 shares of Caterpillar which is valued at $5,484,854 after selling 44,357 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Caterpillar makes up approximately 0.47% of Hanlon Investment Management’s portfolio.

Other Hedge Funds, Including , Welch Forbes reduced its stake in CAT by selling 3,368 shares or 4.49% in the most recent quarter. The Hedge Fund company now holds 71,652 shares of CAT which is valued at $5,877,614. Caterpillar makes up approx 0.17% of Welch Forbes’s portfolio.Armbruster Capital Management reduced its stake in CAT by selling 50 shares or 33.33% in the most recent quarter. The Hedge Fund company now holds 100 shares of CAT which is valued at $8,276. Caterpillar makes up approx 0.01% of Armbruster Capital Management’s portfolio.Signaturefd boosted its stake in CAT in the latest quarter, The investment management firm added 250 additional shares and now holds a total of 3,077 shares of Caterpillar which is valued at $254,653. Caterpillar makes up approx 0.04% of Signaturefd’s portfolio. Chemung Canal Trust Co sold out all of its stake in CAT during the most recent quarter. The investment firm sold 6,700 shares of CAT which is valued $554,492.Carlton Hofferkamp Jenks Wealth Management boosted its stake in CAT in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 3,215 shares of Caterpillar which is valued at $256,203. Caterpillar makes up approx 0.20% of Carlton Hofferkamp Jenks Wealth Management’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.

Leave a Reply

Caterpillar - Is it time to Sell?

Top Brokerage Firms are advising their investors on Caterpillar. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.