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Caterpillar Inc. Growth After the Publication of a Quarterly Report

11/14/2022 3:22 PM

Shares of Caterpillar Inc., one of the world's leading manufacturers of special equipment, are trading in a corrective trend at 236.00.

After the recent positive dynamics, the experts of the UBS Group AG holding downgraded the rating of the company's securities to Neutral from Buy but increased the target price to 230.0 dollars from 225.0 dollars earlier. In their opinion, the corporation will continue to grow in margins and sales, but the recent increase in the issuer's quotes has significantly reduced the potential for further movement.

The strengthening of the trading instrument resulted from the publication of a recent report for the third quarter, which reflected an increase in revenue to 15.0B dollars from 14.25B dollars a quarter earlier, compared to expectations of 14.15B dollars, and earnings per share were 3.95 dollars which is a record for the company, and significantly exceeds the 3.18 dollars shown in the previous quarter. Against positive reporting, it was decided to keep dividends at 1.2 dollars per paper, and a new payment is scheduled for November 18, with an estimated yield of 2.66% per annum, which is an average for companies in the sector.

On the daily chart of the asset, the trading instrument is within the framework of the global Expanding formation pattern, developing a wave of growth.

Technical indicators maintain a stable buy signal: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is trading in the buy zone.

Resistance levels: 240.00, 260.00. | Support levels: 230.00, 211.00.

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