On Wednesday the company released its monthly dealer sales data for July. It seems odd to think that a 9% drop in total global demand is good, but that number had been a drop of 10% in the full second quarter.
Mining equipment was down by 33%, but that was 38% previously. Energy and transportation is very broad, but that drop fell to -5% rather than roughly -10% seen previously.
As you can see in the table below for the total machines reporting, Latin America was the only region for Caterpillar that worsened in the monthly drop — down to -23% from -18%. North America’s gain of 11% compared to a gain of 14% the prior month. Then, if you look at the Energy & Transportation Retail Sales, it looks as though the rolling three-month period showed improvements (even if some were just less-bad) over the prior report.
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Caterpillar shares were up 0.5% at $107.80 in Wednesday morning trading. Its 52-week range is $81.46 to $111.46, and the consensus price target from analysts is up at $113.24.
A full table from Caterpillar’s SEC filing has been provided below.
Top Gaining Stocks
Top Losing Stocks