Caterpillar Inc. Stock Surged 8.9% in October: Here's What You Should Do
October proved to be yet another bumper month for Caterpillar Inc. (NYSE: CAT) Shares of the construction-and-mining equipment giant jumped 8.9%, extending their year-to-date gains to nearly 47% and emerging as one of the biggest contributors to the Dow Jones Industrials' rally.
While Caterpillar shares were holding up firm since the beginning of the month, it was the last week of October that made investors richer. Precisely, Oct. 24, when the company trampled Wall Street estimates with its third-quarter numbers.
Caterpillar's third-quarter sales surged 24% year over year, and earnings more than tripled to $1.77 per share, thanks to strong end-user demand for equipment across all of its businesses -- resource industries (mining), construction industries, and energy and transportation.
Source: Fool.com
Caterpillar Inc. Stock
We see a rather positive sentiment for Caterpillar Inc. with 14 Buy predictions and 2 Sell predictions.
At the moment Caterpillar Inc. has reached the predicted target price of 316 €, with a current price of 313.0 €.
