Advisory Services Network buys $866,652 stake in Caterpillar (CAT)

Caterpillar (CAT) : Advisory Services Network scooped up 492 additional shares in Caterpillar during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 9,796 shares of Caterpillar which is valued at $866,652.Caterpillar makes up approximately 0.16% of Advisory Services Network’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in CAT in the latest quarter, The investment management firm added 459,711 additional shares and now holds a total of 667,228 shares of Caterpillar which is valued at $59,663,528. Caterpillar makes up approx 0.24% of Bnp Paribas Arbitrage Sa’s portfolio.Summit Financial Wealth Advisors reduced its stake in CAT by selling 724 shares or 14.36% in the most recent quarter. The Hedge Fund company now holds 4,318 shares of CAT which is valued at $386,116. Caterpillar makes up approx 0.17% of Summit Financial Wealth Advisors’s portfolio.First American Trust Fsb boosted its stake in CAT in the latest quarter, The investment management firm added 8,608 additional shares and now holds a total of 43,658 shares of Caterpillar which is valued at $3,903,898. Caterpillar makes up approx 1.23% of First American Trust Fsb’s portfolio.Cullinan Associates Inc reduced its stake in CAT by selling 400 shares or 1.8% in the most recent quarter. The Hedge Fund company now holds 21,830 shares of CAT which is valued at $1,952,039. Caterpillar makes up approx 0.17% of Cullinan Associates Inc’s portfolio.

Caterpillar closed down -0.82 points or -0.92% at $88.47 with 37,74,152 shares getting traded on Friday. Post opening the session at $89.52, the shares hit an intraday low of $87.94 and an intraday high of $89.74 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. Deutsche Bank Initiated Caterpillar on Sep 7, 2016 to “Buy”, Price Target of the shares are set at $98.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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