FY2024 EPS Estimates for Caterpillar Reduced by Analyst

Caterpillar Inc. (NYSE:CAT) – Equities researchers at Zacks Research dropped their FY2024 earnings estimates for Caterpillar in a note issued to investors on Wednesday, November 13th. Zacks Research analyst M. Das now anticipates that the industrial products company will earn $21.51 per share for the year, down from their previous 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 posted its quarterly earnings data on Wednesday, October 30th. The industrial products company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.16). Caterpillar had a return on equity of 59.09% and a net margin of 16.26%. The firm had revenue of $16.11 billion during the quarter, compared to analysts’ expectations of $16.37 billion. During the same period last year, the company earned $5.52 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Caterpillar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Truist Financial lifted their price objective on shares of Caterpillar from $399.00 to $456.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Citigroup decreased their price target 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. Finally, Evercore ISI cut Caterpillar from an “in-line” rating to an “underperform” rating and increased their price objective for the stock from $321.00 to $365.00 in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $365.33.

Caterpillar Price Performance

Shares of CAT stock opened at $384.53 on Monday. The stock has a 50 day moving average price of $381.86 and a 200 day moving average price of $354.37. Caterpillar has a 52-week low of $241.81 and a 52-week high of $418.50. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.86 and a current ratio of 1.40. The firm has a market capitalization of $185.65 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.90 and a beta of 1.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its position 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 worth $3,308,000 after acquiring an additional 1,327 shares during the period. Alpha Cubed Investments LLC lifted its holdings in shares of Caterpillar by 5.6% during the third quarter. Alpha Cubed Investments LLC now owns 116,566 shares of the industrial products company’s stock worth $45,591,000 after purchasing an additional 6,212 shares during the period. First Affirmative Financial Network purchased a new stake in shares of Caterpillar in the 3rd quarter valued at $204,000. Inspire Advisors LLC lifted its holdings in shares of Caterpillar by 25.8% in the 3rd quarter. Inspire Advisors LLC now owns 8,266 shares of the industrial products company’s stock valued at $3,233,000 after buying an additional 1,694 shares during the period. Finally, Jackson Square Capital LLC lifted its holdings in Caterpillar by 33.7% in the third quarter. Jackson Square Capital LLC now owns 16,581 shares of the industrial products company’s stock valued at $6,485,000 after acquiring an additional 4,182 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, insider Cheryl H. Johnson sold 2,975 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $342.48, for a total transaction of $1,018,878.00. Following the transaction, the insider now owns 15,615 shares in the company, valued at $5,347,825.20. This represents a 16.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anthony D. Fassino sold 3,185 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $351.36, for a total transaction of $1,119,081.60. Following the completion of the transaction, the insider now directly owns 33,442 shares of the company’s stock, valued at $11,750,181.12. The trade was a 8.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock worth $9,251,912 in the last 90 days. 0.29% of the stock is owned by corporate insiders.

Caterpillar Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Monday, October 21st will be issued a $1.41 dividend. 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 dividend payout ratio is currently 26.15%.

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.