According to Zacks, “Caterpillar’s Asia Pacific sales increased 2% in Aug, the first positive reading since November 2012 while sales lagged in other regions. Also, in the Construction Industries, Asia Pacific remains a consistent bright spot with a 12% increase, the best performance this year and marking its sixth consecutive month of growth. The EAME construction industry is also improving and leading indicators of U.S. non-residential construction signal robust conditions ahead for the domestic construction industry. Further, the company wull benefit from its restructuring actions and share repurchases. Also, the company has a positive record of earnings surprises in the recent quarters. However, weak mining demand, lower oil prices, lower backlog and competitive pricing pressure will remain headwinds.”
Several other research analysts also recently issued reports on the stock. Bank of America Corp. reissued a hold rating and set a $92.00 price objective on shares of Caterpillar in a research report on Monday. Credit Suisse Group AG set a $90.00 target price on shares of Caterpillar and gave the stock a buy rating in a research note on Wednesday, September 28th. Jefferies Group restated a hold rating and issued a $72.00 target price on shares of Caterpillar in a research note on Thursday, September 22nd. Vetr cut shares of Caterpillar from a buy rating to a hold rating and set a $85.19 target price for the company. in a research note on Monday, September 19th. Finally, Deutsche Bank AG assumed coverage on shares of Caterpillar in a research note on Monday, September 12th. They issued a buy rating and a $82.08 target price for the company. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $73.07.
Shares of Caterpillar (NYSE:CAT) traded up 2.05% on Tuesday, hitting $89.30. 1,578,968 shares of the company’s stock were exchanged. The stock has a market cap of $52.17 billion, a price-to-earnings ratio of 59.53 and a beta of 1.54. Caterpillar has a 12-month low of $56.36 and a 12-month high of $89.40. The company’s 50-day moving average price is $83.35 and its 200 day moving average price is $78.35.
Caterpillar (NYSE:CAT) last posted its earnings results on Tuesday, July 26th. The company reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.13. The firm had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $10.06 billion. Caterpillar had a net margin of 2.64% and a return on equity of 12.37%. The company’s revenue was down 16.0% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. On average, equities analysts predict that Caterpillar will post $3.50 earnings per share for the current fiscal year.
In related news, insider Bradley M. Halverson sold 2,841 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $82.73, for a total value of $235,035.93. Following the sale, the insider now directly owns 20,232 shares of the company’s stock, valued at $1,673,793.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis A. Muilenburg purchased 1,930 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was bought at an average cost of $82.75 per share, for a total transaction of $159,707.50. Following the completion of the acquisition, the director now directly owns 9,558 shares of the company’s stock, valued at $790,924.50. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. American Money Management LLC boosted its stake in Caterpillar by 0.3% in the second quarter. American Money Management LLC now owns 3,838 shares of the company’s stock valued at $291,000 after buying an additional 11 shares in the last quarter. Pitcairn Co. boosted its stake in Caterpillar by 0.4% in the second quarter. Pitcairn Co. now owns 3,298 shares of the company’s stock valued at $250,000 after buying an additional 14 shares in the last quarter. Pittenger & Anderson Inc. boosted its stake in Caterpillar by 1.9% in the second quarter. Pittenger & Anderson Inc. now owns 1,325 shares of the company’s stock valued at $100,000 after buying an additional 25 shares in the last quarter. Sabal Trust CO boosted its stake in Caterpillar by 0.7% in the second quarter. Sabal Trust CO now owns 4,128 shares of the company’s stock valued at $313,000 after buying an additional 28 shares in the last quarter. Finally, St. Johns Investment Management Company LLC boosted its stake in Caterpillar by 0.5% in the second quarter. St. Johns Investment Management Company LLC now owns 7,643 shares of the company’s stock valued at $579,000 after buying an additional 36 shares in the last quarter. 69.03% of the stock is currently owned by hedge funds and other institutional investors.
Caterpillar Company Profile
Caterpillar Inc is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Company operates through its three product segments: Resource Industries, Construction Industries, and Energy & Transportation. It also provides financing and related services through its Financial Products segment.
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