Caterpillar, Inc. (CAT) Sets New 12-Month High Following Strong Earnings

Caterpillar shares soar more than 7% on strong earnings beat and yet another raised forecast

Caterpillar shares soar more than 7% on strong earnings beat and yet another raised forecast

It improved, as 51 investors sold Caterpillar Inc. shares while 382 reduced holdings. That puts total institutional holdings at 415,443,631 shares, according to SEC filings.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in Caterpillar by 15.1% in the first quarter. The stock traded as high as $138.19 and last traded at $138.03, with a volume of 11,693,928 shares trading hands.

Looking further out, over the past twelve months, Caterpillar Inc.'s stock was 60.76% and 21.78% over the last quarter and 32.08% for the past six months. Pitcairn Co. raised its stake in shares of Caterpillar by 0.4% in the second quarter. Among active positions in the latest quarter, 514 holders increased their positions by a total of 30.55 million shares, 525 holders decreased the positions by a total of 34.55 million shares, and 210 holders held their positions. Finally, Acrospire Investment Management LLC increased its position in Caterpillar by 900.0% during the second quarter. FMR LLC now owns 19,613,661 shares of the industrial products company's stock valued at $2,107,684,000 after buying an additional 2,052,300 shares during the period. Caterpillar Inc. has $150 highest and $28 lowest target. (NYSE:CAT) has "Sell" rating given on Friday, June 16 by Axiom Capital. Caterpillar has recorded a 50-day average of $125.53 and a two hundred day average of $111.48. During the same quarter in the prior year, the business earned $0.85 earnings per share.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, October 24th.

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Third-quarter profit per share came in at $1.77, up drastically compared to $0.48 per share in the third quarter of 2016. Ig Inv Mngmt holds 0.34% of its portfolio in Caterpillar Inc.

3M (MMM) raised its full-year earnings outlook Tuesday after reporting third-quarter results that beat Wall Street estimates. During the same period previous year, the firm earned $0.85 EPS. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period past year, the business posted $0.75 earnings per share. The ex-dividend date of this dividend is Wednesday, January 18th. S&Co owns 2.03% invested in Caterpillar Inc.

CAT has been the topic of several recent research reports. Zacks Investment Research upgraded Caterpillar from a "hold" rating to a "buy" rating and set a $142.00 price target on the stock in a research note on Wednesday, October 11th. Barclays PLC boosted their target price on shares of Caterpillar from $78.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 12th. Finally, Goldman Sachs Group, Inc. (NYSE:CAT), 12 have Buy rating, 4 Sell and 13 Hold. BMO Capital Markets has "Hold" rating and $11000 target. If you are accessing this article on another domain, it was stolen and reposted in violation of global copyright & trademark law. (NYSE:CAT). Caldwell Orkin Inc reported 7,500 shares.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Week Herald and is the property of of Week Herald. The legal version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/25/caterpillar-inc-cat-price-target-increased-to-145-00-by-analysts-at-stifel-nicolaus.html. Also, Director William A. Osborn sold 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $114.30, for a total transaction of $1,584,083.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Suzette M. Long sold 13,859 shares of the firm's stock in a transaction on Friday, August 4th.

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