Caterpillar Leaps on Earnings

24 April, 2018, 20:34 | Author: Sammy Rose
  • Caterpillar Inc beats estimates and raises 2018 profit outlook in huge vote of confidence for

Caterpillar Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Group President Pellette Thomas A has sold 95,199 shares of Caterpillar Inc. Sandy Spring Bank now owns 981 shares of the industrial products company's stock valued at $155,000 after acquiring an additional 375 shares during the last quarter. The company ended the first quarter of 2018 with an enterprise cash balance of $7.9 billion.

Caterpillar is expecting this year to be even better than last year, with the big USA construction and mining equipment maker hiking its 2018 earnings expectations by up to 24%. Clearbridge Limited Co owns 0% invested in Caterpillar Inc. Norges Bank acquired a new stake in shares of Caterpillar during the fourth quarter worth about $414,361,000.

Cheviot Value Management Llc increased its stake in Goldcorp Inc (GG) by 24.02% based on its latest 2017Q4 regulatory filing with the SEC. Contrarian Capital Management Llc bought 830,592 shares as the company's stock rose 1.53% while stock markets declined. Eaton Vance Management raised its stake in shares of Caterpillar by 275.4% in the third quarter. Following the completion of the transaction, the insider now owns 96,268 shares in the company, valued at approximately $15,700,348.12. Asset Management One Co. It also reduced its holding in Vanguard Index Small Cap (VB) by 50,913 shares in the quarter, leaving it with 10,146 shares, and cut its stake in Verizon Comm (NYSE:VZ). Following the sale, the general counsel now directly owns 19,646 shares of the company's stock, valued at $3,152,397.16. Bojangles Inc has $29 highest and $11 lowest target.

CAT opened at $153.99 on Tuesday. The stock has a market cap of $91,586.16, a P/E ratio of 22.38, a P/E/G ratio of 1.39 and a beta of 1.30.

Caterpillar (NYSE:CAT) posted its quarterly earnings results on Tuesday.

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Caterpillar Inc.'s earnings report for the first quarter of the year includes earnings per share of $2.82. Its revenue from the same quarter of the previous year was $9.82 billion. Higher commodity prices generally translate into more mining activity and that in turn is a positive for Caterpillar. Caterpillar's revenue was up 30.9% on a year-over-year basis. The rosier guidance exceeds economists' expected range of between $8.39 and $10.60 a share.

The Deerfield, Illinois-based company now expects the full-year profit to range between $9.75 to $10.75 per share, $2 above its range in January. Investors of record on Monday, April 23rd will be paid a dividend of $0.78 per share. This represents a $3.08 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, April 20th.

A number of equities research analysts have issued reports on CAT shares. ValuEngine raised shares of Caterpillar from a "hold" rating to a "buy" rating in a research note on Sunday, December 31st. Bank of America maintained it with "Buy" rating and $192.0 target in Friday, January 26 report.

While Caterpillar's stock has slipped about 2 percent in 2018 so far, the company is well-positioned to benefit from a construction sector boom in China, Citigroup said in a note on Monday, upgrading the manufacturers' shares to buy from neutral. Finally, Vetr upgraded Caterpillar from a "strong sell" rating to a "sell" rating and set a $90.53 price target for the company in a research note on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of "Hold" and an average target price of $94.65. It is positive, as 55 investors sold CAT shares while 401 reduced holdings.

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