Caterpillar: What Recession? Construction Machinery Sales Spike, Stock Up 1%
Caterpillar (NYSE:CAT) says it’s construction machinery segment rose 34% in global sales. A sales report that shows gains in all global markets also shows dealer-reported machines sales in North America were down from just 2 months ago.
According to Edgar Online “Caterpillar sells the majority of its machinery and engines to independently owned and operated dealers and OEMs to meet the demands of their customers, the end users. Due to time delays between Caterpillar’s sales to dealers and dealers’ deliveries to end users, Caterpillar believes this information may help readers better understand Caterpillar’s business and the industries it serves.”
Caterpillar’s stock (NYSE:CAT) is up 0.92% to $85.35 on the news. Shares are down 8.7% year to date. The stock has traded in a 52-week range between $72.88 and $116.55.
Other industrial stocks worth watching include Caterpillar competitors Deere & Company (NYSE:DE), General Electric Company (NYSE:GE), Astec Industries, Inc. (NASDAQ:ASTE), Columbus McKinnon Corp. (NASDAQ:CMCO), Manitowoc Company, Inc. (NYSE:MTW), Cummins Inc. (NYSE:CMI), CNH Global N.V. (NYSE:CNH), Navistar Intl. Corp. (NYSE:NAV), Terex Corporation (NYSE:TEX), and Lindsay Corporation (NYSE:LNN).