Caterpillar's scale creates a wide moat, but new competition threatens its industry leadership.
We raised our fair value estimate for Caterpillar to $82 per share from $78 as we increased our operating margin forecast for the next two years; we maintain our wide moat rating. Caterpillar exceeded our expectations this quarter largely on the bottom line as multiyear restructuring efforts continue to bear fruit. Caterpillar increased total revenue to $11.3 billion from $10.3 billion in the prior-year period, and EPS excluding restructuring costs significantly improved to $1.49 from $1.09.The...
Caterpillar is a manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company segments include: Construction Industries, which supports customers using machinery in infrastructure, forestry and building construction; Resource Industries, which supports customers using machinery in mining, heavy construction, quarry and aggregates, waste and material handling applications; Energy and Transportation, which supports customers in oil and gas, power generation, marine, rail and industrial applications, including Cat? machines; and Financial Products, which provides financing and related services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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