Wharton Business Group Lowers stake in Caterpillar (CAT)

Caterpillar (CAT) : Wharton Business Group reduced its stake in Caterpillar by 22.87% during the most recent quarter end. The investment management company now holds a total of 10,288 shares of Caterpillar which is valued at $856,373 after selling 3,050 shares in Caterpillar , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Caterpillar makes up approximately 0.10% of Wharton Business Group’s portfolio.

Other Hedge Funds, Including , Hilltop Park Associates sold out all of its stake in CAT during the most recent quarter. The investment firm sold 25,000 shares of CAT which is valued $2,081,000. Blume Capital Management sold out all of its stake in CAT during the most recent quarter. The investment firm sold 100 shares of CAT which is valued $8,256.Kanaly Trust Co reduced its stake in CAT by selling 15 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 2,282 shares of CAT which is valued at $181,145. Caterpillar makes up approx 0.04% of Kanaly Trust Co’s portfolio.Investors Asset Management Of Georgia Inc Ga Adv boosted its stake in CAT in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 8,637 shares of Caterpillar which is valued at $685,605. Caterpillar makes up approx 0.51% of Investors Asset Management Of Georgia Inc Ga Adv’s portfolio.Legacy Private Trust reduced its stake in CAT by selling 1,028 shares or 24.65% in the most recent quarter. The Hedge Fund company now holds 3,142 shares of CAT which is valued at $250,794. Caterpillar makes up approx 0.04% of Legacy Private Trust’s portfolio.

Caterpillar opened for trading at $83 and hit $84.275 on the upside on Monday, eventually ending the session at $84.15, with a gain of 1.39% or 1.15 points. The heightened volatility saw the trading volume jump to 40,56,023 shares. Company has a market cap of $49,163 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.

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