Caterpillar (CAT) : Traders are bullish on Caterpillar (CAT) as it has outperformed the S&P 500 by a wide margin of 5.22% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.04%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.01% in the last 1 week, and is up 5.62% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Caterpillar Inc. is up 21.15% in the last 3-month period. Year-to-Date the stock performance stands at 27.34%. The stock has recorded a 20-day Moving Average of 1.53% and the 50-Day Moving Average is 6.62%.
Caterpillar (NYSE:CAT): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $83.06 and $82.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $84.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $83.84, notching a gain of 0.55% for the day. The total traded volume was 3,823,918 . The stock had closed at $83.38 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Jefferies, maintains their rating on the shares of Caterpillar (NYSE:CAT). Jefferies has a Hold rating on the shares. As per the latest research report, the brokerage house raises the price target to $72 per share from a prior target of $69. The rating by the firm was issued on July 28, 2016.
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.