Iab Financial Bank Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Iab Financial Bank reduced its stake in Caterpillar by 5.99% during the most recent quarter end. The investment management company now holds a total of 18,820 shares of Caterpillar which is valued at $1,499,766 after selling 1,200 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Caterpillar makes up approximately 0.92% of Iab Financial Bank’s portfolio.

Other Hedge Funds, Including , Coastline Trust Co boosted its stake in CAT in the latest quarter, The investment management firm added 125 additional shares and now holds a total of 12,475 shares of Caterpillar which is valued at $994,133. Caterpillar makes up approx 0.20% of Coastline Trust Co’s portfolio.Eqis Capital Management boosted its stake in CAT in the latest quarter, The investment management firm added 1,953 additional shares and now holds a total of 5,981 shares of Caterpillar which is valued at $477,403. Caterpillar makes up approx 0.03% of Eqis Capital Management’s portfolio.Douglass Winthrop Advisors boosted its stake in CAT in the latest quarter, The investment management firm added 8,048 additional shares and now holds a total of 40,052 shares of Caterpillar which is valued at $3,191,744. Caterpillar makes up approx 0.23% of Douglass Winthrop Advisors’s portfolio.Gateway Investment Advisers reduced its stake in CAT by selling 2,862 shares or 0.57% in the most recent quarter. The Hedge Fund company now holds 501,672 shares of CAT which is valued at $39,978,242. Caterpillar makes up approx 0.34% of Gateway Investment Advisers’s portfolio.

Caterpillar closed down -0.05 points or -0.06% at $79.69 with 41,85,481 shares getting traded on Wednesday. Post opening the session at $79.45, the shares hit an intraday low of $78.93 and an intraday high of $79.86 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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