Caterpillar Inc. (CAT) Shares Surge On Strong Earnings & Outlook

Alicia Cross
October 25, 2017

Primecap Management Co. CA now owns 7,259,063 shares of the industrial products company's stock worth $673,351,000 after acquiring an additional 1,047,922 shares during the period. The institutional investor held 136,760 shares of the capital goods company at the end of 2017Q2, valued at $14.70M, down from 177,668 at the end of the previous reported quarter. Goldman Sachs upgraded the shares of CAT in report on Wednesday, April 5 to "Conviction Buy" rating. BTIG Research maintained the stock with "Buy" rating in Tuesday, May 30 report. (The) upped their price target on shares of Caterpillar from $143.00 to $158.00 and gave the company a "buy" rating in a research note on Monday, October 9th. Caterpillar has an average rating of "Hold" and a consensus price target of $119.82. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock.

Caterpillar Inc. shares increased 0.16 percent over the past week and rose 5.83 percent over the previous month. American Investment Services Inc sold 40,908 shares as the company's stock rose 3.62% with the market.

The stock's Average True Range (ATR) is now 1.38.

The stock is trading at $139.24 which is significantly above the 50 day moving average which is $125.16 and quite a bit higher than the 200 day moving average of $111.17. The stock climbed 14.96 percent over the past quarter, while surged 26.11 percent over the past six months. (NYSE:CAT) news were published by: Bizjournals.com which released: "Q&A: Why a Caterpillar, Inc. group president is spearheading women in the ..." on October 18, 2017, also Seekingalpha.com with their article: "Caterpillar's Earnings Report Is Coming - Time For A Revisit" published on October 18, 2017, Benzinga.com published: "Upcoming Earnings: Heavy-Equipment Maker Caterpillar And Pharma Giant Eli ..." on October 20, 2017.

The company is coming out of a trough and will have to show earnings of $10 per share annually for any further stock price appreciation, Jefferies analyst Stephen Volkmann said.

Analysts believe that the company has the potential to earn average revenue of $10.63 Billion for the current quarter. Vanguard Group Inc. boosted its position in Caterpillar by 3.6% during the 1st quarter. During the same quarter past year, the business posted $1.09 EPS.

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Caterpillar told investors it now anticipates US$6.25 earnings per share for the full year.

Among 29 analysts covering Caterpillar Inc. "(CAT) Price Target Increased to $133.00 by Analysts at Citigroup Inc." was first posted by Week Herald and is the sole property of of Week Herald. If you are reading this piece of content on another website, it was illegally stolen and reposted in violation of United States & global copyright law.

Adirondack Trust Co decreased its stake in Caterpillar Inc (CAT) by 23.61% based on its latest 2017Q2 regulatory filing with the SEC. The shares were purchased at an average price of $114.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Bradley M. Halverson sold 182,612 shares of Caterpillar stock in a transaction dated Thursday, July 27th.

The Relative Strength Index (RSI) is one of the most widely used technical indicators used to evaluate strengthening and weakening momentum in stock price. For the week, the stock is performing 0.16%. It is positive, as 65 investors sold TWTR shares while 100 reduced holdings.

Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock.

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