The stock of Caterpillar Inc. (NYSE:CAT) hit a new 52-week high and has $145.07 target or 64.00% above today’s $88.46 share price. The 6 months bullish chart indicates low risk for the $52.45B company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $145.07 price target is reached, the company will be worth $33.57B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.96 million shares traded hands. Caterpillar Inc. (NYSE:CAT) has risen 31.12% since February 29, 2016 and is uptrending. It has outperformed by 18.91% the S&P500.
Analysts await Caterpillar Inc. (NYSE:CAT) to report earnings on October, 27. They expect $0.73 earnings per share, down 2.67% or $0.02 from last year’s $0.75 per share. CAT’s profit will be $432.83 million for 30.29 P/E if the $0.73 EPS becomes a reality. After $1.09 actual earnings per share reported by Caterpillar Inc. for the previous quarter, Wall Street now forecasts -33.03% negative EPS growth.
Caterpillar Inc. (NYSE:CAT) Ratings Coverage
Out of 21 analysts covering Caterpillar Inc. (NYSE:CAT), 6 rate it a “Buy”, 3 “Sell”, while 12 “Hold”. This means 29% are positive. Caterpillar Inc. has been the topic of 41 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by S&P Research given on Friday, October 23. The firm earned “Hold” rating on Thursday, December 17 by Deutsche Bank. Goldman Sachs upgraded Caterpillar Inc. (NYSE:CAT) on Monday, April 25 to “Neutral” rating. On Thursday, March 24 the stock rating was upgraded by OTR Global to “Positive”. The stock of Caterpillar Inc. (NYSE:CAT) has “Neutral” rating given on Friday, September 4 by Robert W. Baird. Axiom Capital initiated it with “Sell” rating and $28 target price in Thursday, September 24 report. Bank of America maintained Caterpillar Inc. (NYSE:CAT) rating on Friday, September 25. Bank of America has “Neutral” rating and $69 price target. The firm earned “Equal Weight” rating on Friday, September 25 by Barclays Capital. Stifel Nicolaus maintained the shares of CAT in a report on Friday, September 25 with “Buy” rating. The stock of Caterpillar Inc. (NYSE:CAT) earned “Underperform” rating by Macquarie Research on Friday, September 25.
According to Zacks Investment Research, “Caterpillar Inc is the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company is one of only a handful of U.S. companies that leads its industry while competing globally from a principally domestic manufacturing base. The company records more than half of its sales to overseas customers. Their products are used in the construction, road building, mining, forestry, energy, transportation and material-handling industries.”
Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.20, from 1.05 in 2016Q1. The ratio fall, as 76 funds sold all Caterpillar Inc. shares owned while 363 reduced positions. 40 funds bought stakes while 331 increased positions. They now own 396.23 million shares or 3.43% less from 410.29 million shares in 2016Q1.
Marshwinds Advisory has invested 0.57% of its portfolio in Caterpillar Inc. (NYSE:CAT). Chesley Taft Associate Ltd Liability holds 0.03% or 3,300 shares in its portfolio. Morgan Stanley holds 0.14% of its portfolio in Caterpillar Inc. (NYSE:CAT) for 4.96M shares. Tiaa Cref Tru Co Fsb Mo accumulated 0.02% or 21,917 shares. Rockland owns 20,688 shares or 0.28% of their US portfolio. Qs Investors Limited Liability Com has invested 0.01% of its portfolio in Caterpillar Inc. (NYSE:CAT). Pension has 0.24% invested in the company for 349,693 shares. Associated Banc reported 119,334 shares or 0.58% of all its holdings. Papp L Roy Assoc accumulated 0.37% or 20,737 shares. Zweig last reported 195,940 shares in the company. Arrow Finance Corp has invested 0.1% of its portfolio in Caterpillar Inc. (NYSE:CAT). Saybrook Nc reported 4,000 shares or 0.2% of all its holdings. Utah Retirement System reported 102,179 shares or 0.21% of all its holdings. Huntington Natl Bank holds 0.19% or 97,181 shares in its portfolio. Mechanics Savings Bank Trust Department last reported 7,045 shares in the company.
Insider Transactions: Since April 26, 2016, the stock had 3 buys, and 4 insider sales for $1.77 million net activity. $58,563 worth of Caterpillar Inc. (NYSE:CAT) was sold by Copeland Jananne A. on Friday, July 29. Halverson Bradley M sold $41,661 worth of Caterpillar Inc. (NYSE:CAT) on Tuesday, May 31. Muilenburg Dennis A had bought 1,128 shares worth $80,099 on Monday, May 9. CALHOUN DAVID L also bought $1.94M worth of Caterpillar Inc. (NYSE:CAT) on Tuesday, April 26.
More important recent Caterpillar Inc. (NYSE:CAT) news were published by: Fool.com which released: “Excited About Caterpillar Inc.’s Latest Big Buy Rating? Think Again” on September 27, 2016, also Seekingalpha.com published article titled: “Caterpillar: Will The Rally Stop?”, Fool.com published: “Better Buy Today: Caterpillar Inc. vs. ABB Ltd.” on September 07, 2016. More interesting news about Caterpillar Inc. (NYSE:CAT) was released by: Prnewswire.com and their article: “Caterpillar and Dealers Announce $1 Billion Investment in Business, Education …” with publication date: September 21, 2016.
CAT Company Profile
Caterpillar Inc. (Caterpillar), incorporated on March 12, 1986, is a maker of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Firm operates through its three product divisions: Resource Industries, Construction Industries, and Energy & Transportation. The Firm also provides financing and related services through its Financial Products segment. The Firm 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. The Firm operates parts distribution centers at various locations, including Morton, Illinois; Mossville, Illinois; Arvin, California; Denver, Colorado; Miami, Florida; Atlanta, Georgia; St. Paul, Minnesota; Southaven, Mississippi; Clayton, Ohio; Houston, Pennsylvania; York, Pennsylvania; Waco, Texas; Van Alstyne, Texas; Duffield, Virginia; Spokane, Washington; Melbourne, Australia; Stapylton, Australia; Queensland, Australia; Grimbergen, Belgium; Piracicaba, Brazil; Shanghai, China; Dortmund, Germany; Lunen, Germany; San Luis Potosi, Mexico; Singapore, Republic of Singapore; Moscow, Russia; Johannesburg, South Africa, and Dubai, United Arab Emirates.
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