Caterpillar (CAT) was Upgraded by Goldman to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Oct 11, 2016.
Many Wall Street Analysts have commented on Caterpillar. Deutsche Bank Initiated Caterpillar on Sep 7, 2016 to “Buy”, Price Target of the shares are set at $98.Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 73 from a previous price target of $70 .
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 -0.82 points or -0.92% at $88.47 with 37,74,152 shares getting traded on Friday. Post opening the session at $89.52, the shares hit an intraday low of $87.94 and an intraday high of $89.74 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 2, 2016, Jananne A. Copeland (Chief Accounting Officer) sold 706 shares at $82.95 per share price. According to the SEC, on Aug 2, 2016, Dennis A Muilenburg (director) purchased 1,930 shares at $82.75 per share price. On Aug 1, 2016, Bradley M Halverson (Group President & CFO) sold 2,841 shares at $82.73 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.