Zacks Research Decreases Earnings Estimates for Caterpillar

Caterpillar Inc. (NYSE:CAT - Free Report) - Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Caterpillar in a research report issued on Wednesday, November 13th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $21.51 per share for the year, down from their prior estimate of $21.63. The consensus estimate for Caterpillar's current full-year earnings is $21.68 per share. Zacks Research also issued estimates for Caterpillar's Q4 2024 earnings at $4.75 EPS, Q1 2025 earnings at $4.59 EPS, Q3 2025 earnings at $5.28 EPS and Q4 2025 earnings at $5.60 EPS.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion for the quarter, compared to analyst estimates of $16.37 billion. Caterpillar had a net margin of 16.26% and a return on equity of 59.09%. The business's revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.52 EPS.

Several other brokerages have also commented on CAT. Truist Financial upped their price target on shares of Caterpillar from $399.00 to $456.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Citigroup cut their target price on shares of Caterpillar from $445.00 to $435.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Robert W. Baird lifted their target price on Caterpillar from $299.00 to $300.00 and gave the company an "underperform" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Caterpillar from $435.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Finally, StockNews.com cut shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $365.33.

Caterpillar Stock Up 0.1 %

CAT stock traded up $0.46 during trading on Monday, hitting $384.53. 1,626,166 shares of the company's stock were exchanged, compared to its average volume of 2,609,400. The stock has a market capitalization of $185.65 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.90 and a beta of 1.10. Caterpillar has a 52-week low of $241.81 and a 52-week high of $418.50. The business has a 50-day moving average price of $381.86 and a two-hundred day moving average price of $354.37. The company has a current ratio of 1.40, a quick ratio of 0.86 and a debt-to-equity ratio of 1.33.

Caterpillar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be given a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, October 21st. Caterpillar's payout ratio is 26.15%.

Insider Buying and Selling at Caterpillar

In other news, insider Anthony D. Fassino sold 3,185 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $351.36, for a total value of $1,119,081.60. Following the transaction, the insider now owns 33,442 shares in the company, valued at $11,750,181.12. This represents a 8.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel M. Dickinson sold 1,300 shares of Caterpillar stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $418.00, for a total transaction of $543,400.00. Following the completion of the transaction, the director now owns 4,976 shares in the company, valued at $2,079,968. This trade represents a 20.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,749 shares of company stock worth $9,251,912 in the last ninety days. 0.29% of the stock is owned by insiders.

Hedge Funds Weigh In On Caterpillar

Hedge funds have recently added to or reduced their stakes in the company. Bbjs Financial Advisors LLC acquired a new position in Caterpillar during the second quarter valued at approximately $28,000. Financial Connections Group Inc. acquired a new stake in Caterpillar during the 2nd quarter worth about $28,000. Fairscale Capital LLC bought a new stake in Caterpillar during the 2nd quarter valued at $36,000. Capital Performance Advisors LLP bought a new position in shares of Caterpillar in the third quarter valued at approximately $36,000. Finally, POM Investment Strategies LLC lifted its holdings in Caterpillar by 2,160.0% during the second quarter. POM Investment Strategies LLC now owns 113 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 70.98% of the company's stock.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.