Skip to primary navigation Skip to main content
October 24, 2011 at 08:36 AM EDT
Caterpillar Shares Surge after Record Q3 Quarter (CAT)

Construction and mining equipment maker Caterpillar Inc. (CAT) on Monday posted a sharp uptick in third quarter profit and boosted its full-year outlook, sending its shares soaring in premarket trading.

The Peoria, IL-based company reported third quarter net income of $1.14 billion, or $1.71 per share, compared with $792 million, or $1.22 per share, in the year-ago period.

Revenue jumped 41% from last year to $15.7 billion.

On average, Wall Street analysts expected a much smaller profit of $1.54 per share, on lower revenue of $15.03 billion.

Looking ahead, the company said it expects full-year sales to be $58 billion, which is the high end of its previously-announced forecast. It also expects profits at the high end of its prior view.

Caterpillar shares rose $4.65, or +5.1%, in premarket trading Monday.

The Bottom Line
Shares of Caterpillar (CAT) have a 2.11% dividend yield, based on Friday’s closing stock price of $87.39. The stock has technical support in the $76-$80 price area. If the shares can firm up, we see overhead resistance around the $95-$96 price levels.

Caterpillar Inc. (CAT) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here