Caterpillar FY2024 EPS Forecast Boosted by Zacks Research

Caterpillar Inc. (NYSE:CAT - Free Report) - Analysts at Zacks Research lifted their FY2024 earnings per share estimates for Caterpillar in a report released on Friday, October 25th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $21.63 for the year, up from their prior estimate of $21.58. The consensus estimate for Caterpillar's current full-year earnings is $21.91 per share. Zacks Research also issued estimates for Caterpillar's Q4 2024 earnings at $4.87 EPS, Q1 2025 earnings at $5.13 EPS and Q1 2026 earnings at $5.39 EPS.

Caterpillar (NYSE:CAT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $5.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.53 by $0.46. Caterpillar had a net margin of 16.58% and a return on equity of 59.88%. The firm had revenue of $16.69 billion during the quarter, compared to the consensus estimate of $16.91 billion. During the same quarter in the previous year, the firm posted $5.55 EPS. The business's revenue for the quarter was down 3.6% compared to the same quarter last year.

A number of other analysts also recently weighed in on CAT. Morgan Stanley downgraded Caterpillar from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $349.00 to $332.00 in a research report on Monday, October 14th. Barclays upped their price objective on shares of Caterpillar from $315.00 to $335.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 7th. UBS Group raised their target price on shares of Caterpillar from $270.00 to $285.00 and gave the company a "sell" rating in a report on Wednesday, August 7th. Evercore ISI dropped their target price on shares of Caterpillar from $338.00 to $321.00 and set an "in-line" rating for the company in a research report on Monday, August 19th. Finally, StockNews.com lowered shares of Caterpillar from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $355.50.

Caterpillar Price Performance

Shares of CAT stock traded up $4.64 during trading on Monday, hitting $390.61. The company had a trading volume of 3,213,303 shares, compared to its average volume of 2,625,415. The stock's 50-day moving average price is $368.57 and its 200 day moving average price is $350.66. Caterpillar has a one year low of $223.76 and a one year high of $403.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.78 and a current ratio of 1.28. The firm has a market capitalization of $191.03 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be paid a $1.41 dividend. This represents a $5.64 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, October 21st. Caterpillar's dividend payout ratio is currently 25.46%.

Insider Activity at Caterpillar

In other Caterpillar news, Director Gerald Johnson bought 100 shares of Caterpillar stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $338.59 per share, with a total value of $33,859.00. Following the acquisition, the director now directly owns 2,842 shares of the company's stock, valued at $962,272.78. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anthony D. Fassino sold 3,185 shares of the 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 completion of the sale, the insider now owns 33,442 shares of the company's stock, valued at approximately $11,750,181.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gerald Johnson acquired 100 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $338.59 per share, for a total transaction of $33,859.00. Following the completion of the purchase, the director now owns 2,842 shares of the company's stock, valued at $962,272.78. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC boosted its position in Caterpillar by 7.7% during the first quarter. Miracle Mile Advisors LLC now owns 4,667 shares of the industrial products company's stock valued at $1,710,000 after acquiring an additional 334 shares during the last quarter. Claro Advisors LLC grew its stake in Caterpillar by 23.9% during the first quarter. Claro Advisors LLC now owns 1,616 shares of the industrial products company's stock worth $592,000 after purchasing an additional 312 shares during the period. Eagle Capital Management LLC bought a new stake in Caterpillar in the first quarter worth approximately $249,000. FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new position in Caterpillar in the first quarter valued at approximately $246,000. Finally, Cullinan Associates Inc. boosted its holdings in shares of Caterpillar by 14.0% during the 1st quarter. Cullinan Associates Inc. now owns 41,983 shares of the industrial products company's stock worth $15,384,000 after buying an additional 5,147 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Caterpillar Company Profile

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.