Caterpillar Share Price Forecast July 2021 – Time to Buy CAT?
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Shares of Caterpillar Inc.(NYSE: CAT) are in the red today, losing -1.20%, which has got many investors talking. The American Fortune 100 company has remained in the green in the last 5 days, hitting its week-highest on Thursday when it touched the $219.79 level. Investors are thus wondering whether this is the right time to pick up CAT shares.
Caterpillar Inc. – Technical Analysis
As per the financial statement released by the company, Caterpillar Inc. has a market cap of $116.191 billion and total assets worth $80.729 billion. Its share experienced a 17.15% change in year-to-year performance. The company added 16.91% of value in the past 6 months with an annual growth rate of 46.34%. They have estimated their revenue growth at 131.1% in this quarter. CAT shares closed on July 8th at $212.11 with a downtrend of -1.20%.
For Caterpillar Inc., oscillators such as Average Directional Index (14)(26.50), Williams Percent Range (14)(−59.77), Ultimate Oscillator (7, 14, 28)(49.03) and Bull Bear Power(−8.74), are pointing towards neutral. On the other hand, moving averages such as Simple Moving Average (20)(216.00), Exponential Moving Average (30)(221.41) and Simple Moving Average (100)(226.91) are pointing towards buying.
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Recent Developments
Caterpillar Inc. has signed an agreement with Nouveau Monde on June 22 for testing and producing Cat® “zero-emission machines”. This partnership is expected to reap significant benefits in the near future as zero-emission initiatives are taking place all over the globe. The company is gearing up to conduct extensive testing of the vehicles and the accompanying infrastructure before production begins. The date for this highly collaborative testing process is yet to be announced.
The company has paid a dividend in cash every year since formation, paying a quarterly dividend since 1933. It has paid higher dividends for 27 consecutive years and is a part of the S&P 500 Dividend Aristocrat Index. Their board of directors voted to increase the quarterly cash dividend by 8% to $1.11 per share of common stock. It will be payable to shareholders on August 20th of record at the close of business on July 20th.
Should You Buy CAT Shares?
Investors should look forward to the company releasing its next earnings release as it is projected to report earnings of $2.36 per share. Investors should also remember that recent revisions tend to indicate the latest near-term business trends. Hence they should note any recent change to analyst estimates for CAT. Investors can interpret CAT’s positive estimate revisions as a good sign for the organization’s business outlook.
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