Caterpillar bulls vindicated as CEO posts third sales beat

Credit Cass Herrington  Peoria Public Radio

Credit Cass Herrington Peoria Public Radio

Trading volume for Caterpillar Inc. was 5.54 Million in its previous trading session. (NYSE:CAT) for 1,151 shares. However, on an adjusted basis earnings per share came in at $1.32 (consensu: $1.11).

Several other research firms have also weighed in on CAT. The company reported revenue of $10.32 Billion in the same period previous year. Adirondack Trust Co sold 2,960 shares as the company's stock rose 3.62% with the market. Reilly Financial Advisors LLC grew its stake in Caterpillar by 92.9% during the second quarter. Last week, it was 0.16%, 14.96% over the last quarter, and 26.11% for the past half-year. Acrospire Investment Management LLC now owns 1,000 shares of the industrial products company's stock valued at $107,000 after acquiring an additional 900 shares in the last quarter. Primecap Management Co. CA boosted its position in Caterpillar by 16.9% during the 1st quarter. On October 13 Citigroup held the company rating at "Neutral" but moved up the price target from $125.00 to $133.00. Institutional investors and hedge funds own 69.27% of the company's stock. A buy point is the point at which an investor has the best opportunity for near-term gains, and Caterpillar has been a case in point, gaining more than 30% over the past six months. Caterpillar Inc. (NYSE:CAT) has risen 47.53% since October 23, 2016 and is uptrending. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & worldwide copyright laws.

In a sign that economic growth is taking root across all regions, Caterpillar reported increased demand in every place it does business. On August 3 the company was upgraded from "Underweight" to "Neutral" in a report issued by Atlantic Equities. (NYSE:CAT) earned "Buy" rating by Goldman Sachs on Tuesday, October 11. Zacks Investment Research upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $92.00 target price on the stock in a report on Tuesday, September 27th. Deutsche Bank AG reiterated a "hold" rating and issued a $121.00 price target (up previously from $120.00) on shares of Caterpillar in a research note on Monday, October 9th.

Caterpillar Inc. (NYSE:CAT) stock was on the rise Monday following the release of its earnings report for the third quarter of 2017. Consensus earnings estimates are far from ideal, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock.

Caterpillar Inc. (NYSE:CAT) touched its 1-Year High price of $132.34 on 10/23/17 and its 1-Year Low price of $ 80.33 on 11/02/16. Caterpillar has an average rating of "Hold" and a consensus price target of $119.82. The stock has performed 0.16% over the last seven days, 5.83% over the last thirty, and 14.96% over the last three months.

The Relative Strength Index (RSI) is one of the most widely used technical indicators used to evaluate strengthening and weakening momentum in stock price. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The stock was sold at an average price of $114.05, for a total value of $20,826,898.60.

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