Caterpillar (CAT) was Reiterated by RBC Capital Mkts to “Sector Perform” according to the research note released today. The brokerage firm has raised the Price Target to $ 73 from a previous price target of $70 . RBC Capital Mkts advised their investors in a research report released on Jul 27, 2016.
On the company’s financial health, Caterpillar reported $1.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.96. The company had revenue of $10342.00 million for the quarter, compared to analysts expectations of $10131.20 million. The company’s revenue was down -16.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.27 EPS.
Caterpillar closed down -1.18 points or -1.40% at $82.92 with 44,63,635 shares getting traded on Thursday. Post opening the session at $83.7, the shares hit an intraday low of $82.45 and an intraday high of $83.7148 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jun 2, 2016, Bradley M Halverson (Group President & CFO) sold 574 shares at $72.58 per share price. According to the SEC, on May 9, 2016, Dennis A Muilenburg (director) purchased 1,128 shares at $71.01 per share price. On Apr 28, 2016, David L Calhoun (director) purchased 25,000 shares at $77.44 per share price, according to the Form-4 filing with the securities and exchange commission.
Caterpillar Inc. is a manufacturer of construction and mining equipment diesel and natural gas engines industrial gas turbines and diesel-electric locomotives. The Company principally operates through its three product segments: Resource Industries Construction Industries and Energy & Transportation. The Company also provides financing and related services through its Financial Products segment. It 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. It operates parts distribution centers at various locations including Morton Illinois; Arvin California; Denver Colorado; Miami Florida; Atlanta Georgia; St. Paul Minnesota and Dubai United Arab Emirates among others. Its subsidiaries include Caterpillar Life Insurance Company Cat Financial and Caterpillar Product Services Corporation (CPSC) among others.