Barclays issues ” Overweight” Rating on Caterpillar (CAT)

Caterpillar (CAT) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 110 from a previous price target of $100 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, Caterpillar reported $0.83 EPS for the quarter, beating the analyst consensus estimate by $ 0.16 according to the earnings call on Jan 26, 2017. Analyst had a consensus of $0.67. The company had revenue of $9574.00 million for the quarter, compared to analysts expectations of $9811.58 million. The company’s revenue was down -13.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.74 EPS.

Several company insiders have filed Insider transactions , on Nov 14, 2016, Daniel M Dickinson (director) sold 950 shares at $93.52 per share price. According to the SEC, on Nov 14, 2016, Jananne A. Copeland (Chief Accounting Officer) sold 4,859 shares at $91.22 per share price. On Aug 2, 2016, Dennis A Muilenburg (director) purchased 1,930 shares at $82.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Caterpillar opened for trading at $94.87 and hit $96.62 on the upside on Friday, eventually ending the session at $96.31, with a gain of 2.50% or 2.35 points. The heightened volatility saw the trading volume jump to 56,00,224 shares. Company has a market cap of $56,348 M.

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.


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