FY2024 EPS Estimates for Caterpillar Decreased by Analyst

Caterpillar Inc. (NYSE:CAT) – Equities researchers at Zacks Research cut their FY2024 earnings estimates for shares of Caterpillar in a research report issued on Wednesday, November 13th. Zacks Research analyst M. Das now expects that the industrial products company will earn $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) last issued its earnings results on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing the consensus estimate of $5.33 by ($0.16). The company had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. Caterpillar’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $5.52 EPS.

Other research analysts have also recently issued reports about the stock. Bank of America boosted their target price on shares of Caterpillar from $376.00 to $434.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Citigroup cut their price objective on shares of Caterpillar from $445.00 to $435.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Caterpillar from $435.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and boosted their price target for the stock from $321.00 to $365.00 in a research note on Wednesday, November 13th. Finally, Morgan Stanley downgraded Caterpillar from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $349.00 to $332.00 in a report on Monday, October 14th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Hold” and a consensus price target of $365.33.

Caterpillar Stock Down 0.8 %

NYSE CAT opened at $384.07 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.40 and a debt-to-equity ratio of 1.33. Caterpillar has a fifty-two week low of $241.81 and a fifty-two 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 $354.20. The stock has a market cap of $185.43 billion, a PE ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors 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 of this dividend is Monday, October 21st. Caterpillar’s dividend payout ratio is presently 26.15%.

Insider Buying and Selling

In related news, insider Lange Bob De sold 12,657 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $410.25, for a total transaction of $5,192,534.25. Following the completion of the transaction, the insider now directly owns 71,107 shares in the company, valued at $29,171,646.75. This represents a 15.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Schaupp sold 968 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $380.98, for a total value of $368,788.64. Following the completion of the sale, the chief accounting officer now owns 1,686 shares in the company, valued at $642,332.28. The trade was a 36.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,749 shares of company stock worth $9,251,912 over the last quarter. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC raised its stake in Caterpillar by 17.2% during the 1st quarter. Acadian Asset Management LLC now owns 9,037 shares of the industrial products company’s stock valued at $3,308,000 after acquiring an additional 1,327 shares in the last quarter. Trustmark National Bank Trust Department increased its stake in Caterpillar by 18.8% during the 1st quarter. Trustmark National Bank Trust Department now owns 4,409 shares of the industrial products company’s stock valued at $1,616,000 after buying an additional 699 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Caterpillar by 141.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,800 shares of the industrial products company’s stock worth $3,591,000 after buying an additional 5,744 shares in the last quarter. Hilltop Partners LLC acquired a new stake in shares of Caterpillar in the 1st quarter worth approximately $222,000. Finally, Capitolis Liquid Global Markets LLC bought a new position in shares of Caterpillar in the first quarter valued at approximately $34,811,000. 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.