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- 1 CAT stock surged over 40% in 52 weeks time but lost 1.54% in a week.
- 2 Caterpillar Inc. stock aims to break its 52 weeks high and trade above $300.
- 3 In the 52 weeks time frame, CAT stock peaked at $293.88 and its lowest traded price was $160.60.
CAT stock has followed a path of profitably and since the beginning of 2023 it went up by $42.93. At publication time, Caterpillar Inc. stock was trading at $281.81.
Caterpillar, Inc. (CAT) Stock Price Analysis
Over the past few trading sessions, CAT stock seems to be moving sidewards indicating that the stock price is resting in the safe zone and aiming to register a fresh 52 week high.
In the 52 weeks time frame, CAT stock peaked at $293.88 while the lowest traded price was $160.60. Caterpillar, Inc. engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives.
Caterpillar, Inc. stock’s annual price target is $291.62 which is around 3.48% greater than its current trading price. Market analysts believe that in pre-market CAT stock price might open below its previous closing price.
The MACD line and signal line are moving parallely above the zero line indicating neutrality but sellers seem to be active. Similarly, RSI and the MAs are reflecting neutrality.
On September 12 buyers were dominating sellers, but CAT stock prices showed a mild negativity of 0.09%. Caterpillar, Inc has a market capitalization of $143.763 Billion and its share average trading volume is 1.855 Million.
The last dividend yield of CAT stock was 1.85% and basic EPS was 16.16. In the weekly time frame, CAT share prices declined over 1.58% but despite a short term decline, it surged 14.19% in the past three months.
Caterpillar, Inc Financial Updates
In Q2 2023, Caterpillar, Inc was expected to report $16.46 Billion in revenue however impressing its investors it reported $17.32 Billion in revenue. The estimated revenue for the third quarter is $16.50 Billion.
Expected EPS was positive 4.57 but the reported EPS was 21.33% greater than the estimation. The estimated EPS for the third quarter is 4.72.
Technical Levels
Major Support: $268.80 & $260.44
Major Resistance: $287.70 & $300
Conclusion
No significant price correction has been seen in the past few trading sessions and CAT stock price seems to be moving in a sideward direction. The neutrality in RSI & MACD indicates that Caterpillar Inc stock is resting in the safe zone to register fresh 52 weeks high.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
