Caterpillar Sales Rising but at Slower Rate
Updated from 9:44 a.m. EDT with stock price
NEW YORK (TheStreet) -- Sales are rising in each region for construction company Caterpillar (CAT) but at a lower rate than in past months.
Caterpillar, which makes heavy machinery, reported in its 8-K Tuesday that sales in the Asia/Pacific region rose 20% in February, Latin American sales increased 6% and North American sales gained 39%. In January, Asia/Pacific sales increased 25%, Latin American sales gained 13% and North American sales rose 47%.
Share of Caterpillar fell 2.73% to $110.62 in early trading Tuesday. The stock has risen 23.27% year to date.
TheStreet Ratings gives Caterpillar an A grade with a buy rating and a $131.03 price target. -- Written by Alexandra Zendrian>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: tips@thestreet.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
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