Jensen Investment Management Inc Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Jensen Investment Management Inc reduced its stake in Caterpillar by 3.55% during the most recent quarter end. The investment management company now holds a total of 5,700 shares of Caterpillar which is valued at $479,370 after selling 210 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Caterpillar makes up approximately 0.01% of Jensen Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Narwhal Capital Management sold out all of its stake in CAT during the most recent quarter. The investment firm sold 26,975 shares of CAT which is valued $2,268,598.Boyd Watterson Asset Managementoh reduced its stake in CAT by selling 350 shares or 6.0% in the most recent quarter. The Hedge Fund company now holds 5,481 shares of CAT which is valued at $437,493. Caterpillar makes up approx 0.21% of Boyd Watterson Asset Managementoh’s portfolio.Fisher Asset Management reduced its stake in CAT by selling 1,565 shares or 25.25% in the most recent quarter. The Hedge Fund company now holds 4,632 shares of CAT which is valued at $369,124.Firstmerit Bank N A Trustee reduced its stake in CAT by selling 126 shares or 0.45% in the most recent quarter. The Hedge Fund company now holds 28,085 shares of CAT which is valued at $2,238,094. Caterpillar makes up approx 0.18% of Firstmerit Bank N A Trustee’s portfolio.First American Trust Fsb reduced its stake in CAT by selling 2,371 shares or 6.34% in the most recent quarter. The Hedge Fund company now holds 35,050 shares of CAT which is valued at $2,711,819. Caterpillar makes up approx 0.95% of First American Trust Fsb’s portfolio.

Caterpillar closed down -0.16 points or -0.19% at $82.76 with 42,74,241 shares getting traded on Friday. Post opening the session at $82.8, the shares hit an intraday low of $82.1345 and an intraday high of $83.14 and the price fluctuated in this range throughout the day.Shares ended Friday 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. 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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