Caterpillar Inc. (CAT) Shares Surge On Strong Earnings & Outlook
Caterpillar Inc. (CAT) Shares Surge On Strong Earnings & Outlook
Near term Outlook For Caterpillar Inc. (NYSE:CAT)
24 October, 2017, 20:09
(NYSE:CAT). Hall Laurie J Trustee holds 0% in Caterpillar Inc. Acrospire Investment Management LLC grew its stake in Caterpillar by 900.0% during the second quarter. This showed a surprise of 18.3% in the last quarter earnings. Morgan Stanley boosted its position in Caterpillar by 15.1% during the 1st quarter. TIAA CREF Investment Management LLC raised its position in Caterpillar by 19.9% in the third quarter. Analysts expect next quarter's EPS to be $1.27 with next year's EPS projected to be $6.69. Institutional investors and hedge funds own 69.27% of the company's stock.
Cardinal Capital Management Llc, which manages about $1.96 billion and $2.53 billion US Long portfolio, upped its stake in J2 Global Inc (NASDAQ:JCOM) by 6,317 shares to 597,317 shares, valued at $50.83M in 2017Q2, according to the filing. "(CAT)" was first reported by TrueBlueTribune and is owned by of TrueBlueTribune. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & worldwide trademark and copyright law. (NYSE:CAT) for 2,957 shares.
A number of research analysts have issued reports on the company. They issued a "buy" rating and a $72.56 target price on the stock. The company now has a consensus rating of "Hold" and an average price target of $119.82.
Among 16 analysts covering Akorn Inc (NASDAQ:AKRX), 5 have Buy rating, 2 Sell and 9 Hold. 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. Robert W. Baird has "Hold" rating and $130.0 target.
The stock of Innodata Inc (NASDAQ:INOD) hit a new 52-week low and has $1.12 target or 7.00% below today's $1.20 share price. The stock was sold at an average price of $113.67, for a total transaction of $568,350.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
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In related news, Director Daniel M. Dickinson sold 950 shares of the firm's stock in a transaction on Thursday, November 10th. The shares were purchased at an average price of $114.30. Over the last five trading sessions, the stock has moved 0.16%. Caterpillar has a 12 month low of $80.33 and a 12 month high of $140.44. (NYSE:CAT) has "Buy" rating given on Friday, April 28 by Raymond James. The stock has a market cap of $77.82 billion, a P/E ratio of 735.64 and a beta of 1.25.
Caterpillar Inc, the world's biggest construction and mining equipment maker, reported a 25 percent jump in quarterly revenue on Tuesday, driven by soaring demand for its construction equipment. Citigroup Inc.'s price objective points to a potential upside of 1.00% from the company's previous close. Caterpillar had a return on equity of 12.79% and a net margin of 2.54%. Caterpillar's revenue for the quarter was up 24.6% compared to the same quarter past year. During the same quarter previous year, the business posted $1.09 EPS. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.68.
The business also recently announced a quarterly dividend, which will be paid on Saturday, February 18th. The ex-dividend date is Friday the 20th of October 2017. This represents a $3.08 dividend on an annualized basis and a yield of 3.27%.
The P/E ratio is now 777.88 and market capitalization is 82.29B.
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