Wednesday, 22 November, 2017

Caterpillar, Inc. (CAT) Sets New 12-Month High Following Strong Earnings

Caterpillar Caterpillar shares soar more than 7% on strong earnings beat and yet another raised forecast
Kelvin Reese | 26 October, 2017, 01:01

Clearbridge Investments LLC lifted its position in Caterpillar by 0.3% during the 1st quarter. The insider now directly owns 11,262 shares worth $1,556,859. The institutional investor owned 130,036 shares of the industrial products company's stock after selling 35,493 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of Caterpillar by 1.9% in the second quarter. Vanguard Group Inc. now owns 41,225,175 shares of the industrial products company's stock valued at $4,430,058,000 after buying an additional 2,377,623 shares during the period. Finally, Tarbox Family Office Inc. lifted its position in Caterpillar by 0.4% during the 2nd quarter.

Caterpillar Inc.is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives.

Cat reports third-quarter sales and revenues up more than $2 billion from a year ago. Institutional investors and hedge funds own 69.27% of the company's stock.

Looking further out, over the past twelve months, Caterpillar Inc.'s stock was 60.76% and 21.78% over the last quarter and 32.08% for the past six months.

Caterpillar, Inc. has a 12 month low of $80.33 and a 12 month high of $140.44.

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RBC Capital bumped up the target of Caterpillar (NYSE:CAT) to $143.00 stating a potential upside of 0.03%. The stock had a trading volume of 890,079 shares.

Caterpillar, Inc. (NYSE:CAT) has been given a $150.00 price target by analysts at Wells Fargo & Company in a note issued to investors on Monday, October 16th. The firm's 50-day moving average is $94.40 and its 200 day moving average is $85.51. Excluding restructuring costs, third-quarter 2017 adjusted profit per share was $1.95, compared with third-quarter 2016 adjusted profit per share of $0.85. Ig Inv Mngmt holds 0.34% of its portfolio in Caterpillar Inc. The company earned $9.16 billion during the quarter, compared to analysts' expectations of $9.91 billion. On average, equities analysts anticipate that Caterpillar will post $5.29 EPS for the current fiscal year. The business's revenue was up 24.6% on a year-over-year basis. Analysts expect EPS of $8.95.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. (NASDAQ:AKRX) on Friday, October 20 with "Hold" rating. Caterpillar's dividend payout ratio is 2,080.00%.

Caterpillar Inc. (CAT) has been given an average price target of $129.75 from analysts, according to data collected by Finviz. Jefferies Group LLC restated a "hold" rating and set a $100.00 price objective on shares of Caterpillar in a report on Tuesday, August 29th. Macquarie Research upgraded the stock to "Outperform" rating in Tuesday, May 24 report. J P Morgan Chase & Co boosted their target price on shares of Caterpillar from $78.00 to $89.00 and gave the stock a "neutral" rating in a report on Monday, December 5th. Credit Suisse Group restated a "hold" rating and set a $133.00 price objective on shares of Caterpillar in a report on Friday, September 22nd. "Ultimately, through all this investigation into the company's performance the analyst decides whether their stock is a "buy", sell" or hold". The brokerage now has a "buy" rating on the industrial products company's stock.

Among new and sold out positions, 120 holders initiated new positions by a total of 5.25 million shares and 59 holders exited their positions by a total of 1.72 million shares. The shares were sold at an average price of $113.67, for a total value of $568,350.00. Following the sale, the insider now directly owns 18,188 shares of the company's stock, valued at $2,078,888.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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