Notable Price Action: What’s Propelling Caterpillar Inc. to Reach 52-Week High?

Notable Price Action: What's Propelling Caterpillar Inc. to Reach 52 Week High?

The stock of Caterpillar Inc. (NYSE:CAT) hit a new 52-week high and has $152.05 target or 69.00% above today’s $89.97 share price. The 8 months bullish chart indicates low risk for the $53.22B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $152.05 price target is reached, the company will be worth $36.72 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 8.74M shares traded hands or 64.60% up from the average. Caterpillar Inc. (NYSE:CAT) has risen 14.17% since April 7, 2016 and is uptrending. It has outperformed by 9.39% the S&P500.

Caterpillar Inc. (NYSE:CAT) Ratings Coverage

Out of 22 analysts covering Caterpillar Inc. (NYSE:CAT), 7 rate it a “Buy”, 3 “Sell”, while 12 “Hold”. This means 32% are positive. $104 is the highest target while $28 is the lowest. The $72.68 average target is -19.22% below today’s ($89.97) stock price. Caterpillar Inc. has been the topic of 43 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Citigroup maintained Caterpillar Inc. (NYSE:CAT) rating on Friday, September 25. Citigroup has “Neutral” rating and $70 price target. The stock has “Hold” rating given by Deutsche Bank on Thursday, December 17. OTR Global downgraded the stock to “Mixed” rating in Monday, September 19 report. The stock of Caterpillar Inc. (NYSE:CAT) earned “Buy” rating by Goldman Sachs on Tuesday, October 11. Barclays Capital maintained Caterpillar Inc. (NYSE:CAT) rating on Wednesday, October 12. Barclays Capital has “Equal-Weight” rating and $90 price target. S&P Research downgraded it to “Sell” rating and $64 target price in Friday, October 23 report. On Friday, March 18 the stock rating was maintained by Citigroup with “Neutral”. Robert W. Baird downgraded Caterpillar Inc. (NYSE:CAT) on Friday, September 4 to “Neutral” rating. The stock of Caterpillar Inc. (NYSE:CAT) earned “Outperform” rating by Credit Suisse on Monday, April 4. The rating was downgraded by William Blair on Friday, September 25 to “Market Perform”.

According to Zacks Investment Research, “Caterpillar Inc is the world’s largest manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines. The company is one of only a handful of U.S. companies that leads its industry while competing globally from a principally domestic manufacturing base. The company records more than half of its sales to overseas customers. Their products are used in the construction, road building, mining, forestry, energy, transportation and material-handling industries.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.20, from 1.05 in 2016Q1. The ratio dropped, as 76 funds sold all Caterpillar Inc. shares owned while 363 reduced positions. 40 funds bought stakes while 331 increased positions. They now own 396.23 million shares or 3.43% less from 410.29 million shares in 2016Q1.
Community Bancorp Na accumulated 0.25% or 13,718 shares. The Illinois-based Northern Tru Corp has invested 0.17% in Caterpillar Inc. (NYSE:CAT). Spinnaker holds 0.19% of its portfolio in Caterpillar Inc. (NYSE:CAT) for 18,322 shares. Dnb Asset As reported 58,597 shares or 0% of all its holdings. Ridgeworth Mgmt Limited Liability Corporation has invested 0.4% of its portfolio in Caterpillar Inc. (NYSE:CAT). Loring Wolcott Coolidge Fiduciary Llp Ma last reported 0% of its portfolio in the stock. Pinnacle Limited owns 69,392 shares or 0.11% of their US portfolio. Cleararc Capital Incorporated last reported 0.21% of its portfolio in the stock. National Pension Service holds 0.24% or 349,693 shares in its portfolio. Td Asset last reported 0.13% of its portfolio in the stock. Marco Invest Mngmt Lc has 1.2% invested in the company for 85,387 shares. Washington Bank holds 0.08% of its portfolio in Caterpillar Inc. (NYSE:CAT) for 4,000 shares. Seaward Ltd Partnership accumulated 0.23% or 54,440 shares. Haverford Trust holds 0.01% or 2,950 shares in its portfolio. Cap Ltd Ca reported 6,200 shares or 0.03% of all its holdings.

Insider Transactions: Since May 31, 2016, the stock had 1 buy, and 3 sales for $175,552 net activity. Halverson Bradley M had sold 574 shares worth $41,661. The insider Copeland Jananne A. sold $58,563. On Friday, July 29 Muilenburg Dennis A bought $159,708 worth of the stock or 1,930 shares.

More notable recent Caterpillar Inc. (NYSE:CAT) news were published by: Fool.com which released: “1 Billionaire is Shorting Caterpillar Inc.’s Stock: Should You?” on November 04, 2016, also Prnewswire.com with their article: “Modustri y Caterpillar Inc. lanzan una plataforma global de gestión de …” published on November 09, 2016, Fool.com published: “What the Upcoming CEO Shuffle Means for Caterpillar Inc.” on November 01, 2016. More interesting news about Caterpillar Inc. (NYSE:CAT) were released by: Prnewswire.com and their article: “Modustri and Caterpillar Inc. Launch Global Machine and Wear Management …” published on November 08, 2016 as well as Prnewswire.com‘s news article titled: “Caterpillar Inc. Maintains Dividend Rate” with publication date: October 12, 2016.

CAT Company Profile

Caterpillar Inc. (Caterpillar), incorporated on March 12, 1986, is a maker of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The Firm operates through its three product divisions: Resource Industries, Construction Industries, and Energy & Transportation. The Firm also provides financing and related services through its Financial Products segment. The Firm 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. The Firm operates parts distribution centers at various locations, including Morton, Illinois; Mossville, Illinois; Arvin, California; Denver, Colorado; Miami, Florida; Atlanta, Georgia; St. Paul, Minnesota; Southaven, Mississippi; Clayton, Ohio; Houston, Pennsylvania; York, Pennsylvania; Waco, Texas; Van Alstyne, Texas; Duffield, Virginia; Spokane, Washington; Melbourne, Australia; Stapylton, Australia; Queensland, Australia; Grimbergen, Belgium; Piracicaba, Brazil; Shanghai, China; Dortmund, Germany; Lunen, Germany; San Luis Potosi, Mexico; Singapore, Republic of Singapore; Moscow, Russia; Johannesburg, South Africa, and Dubai, United Arab Emirates.

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