Research Analysts Set Expectations for Caterpillar Inc.’s Q1 2024 Earnings (NYSE:CAT)

Caterpillar Inc. (NYSE:CATFree Report) – DA Davidson issued their Q1 2024 earnings per share estimates for shares of Caterpillar in a note issued to investors on Thursday, February 8th. DA Davidson analyst M. Shlisky forecasts that the industrial products company will earn $5.22 per share for the quarter. The consensus estimate for Caterpillar’s current full-year earnings is $21.04 per share. DA Davidson also issued estimates for Caterpillar’s FY2025 earnings at $22.65 EPS.

Several other analysts have also weighed in on CAT. TD Cowen increased their price target on Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 6th. StockNews.com downgraded Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 20th. Wells Fargo & Company upped their price objective on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Tigress Financial upped their price objective on Caterpillar from $282.00 to $295.00 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, HSBC began coverage on Caterpillar in a research report on Monday, November 20th. They issued a “hold” rating and a $250.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $284.72.

View Our Latest Stock Report on Caterpillar

Caterpillar Stock Performance

NYSE:CAT opened at $317.16 on Friday. The stock’s fifty day moving average is $290.15 and its 200 day moving average is $273.61. Caterpillar has a fifty-two week low of $204.04 and a fifty-two week high of $334.87. The firm has a market capitalization of $161.46 billion, a PE ratio of 15.75, a PEG ratio of 1.55 and a beta of 1.15. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.92 and a current ratio of 1.35.

Caterpillar (NYSE:CATGet Free Report) last released its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share for the quarter, beating the consensus estimate of $4.76 by $0.47. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company had revenue of $17.07 billion for the quarter, compared to analyst estimates of $17.06 billion. During the same quarter in the prior year, the firm posted $3.86 EPS. Caterpillar’s quarterly revenue was up 2.8% compared to the same quarter last year.

Institutional Investors Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAT. Moneta Group Investment Advisors LLC raised its stake in shares of Caterpillar by 130,632.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock worth $2,343,859,000 after purchasing an additional 9,776,533 shares during the last quarter. Norges Bank purchased a new position in shares of Caterpillar in the fourth quarter worth about $1,660,560,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Caterpillar in the first quarter worth about $433,134,000. Imprint Wealth LLC raised its stake in shares of Caterpillar by 24,982.9% in the second quarter. Imprint Wealth LLC now owns 1,538,084 shares of the industrial products company’s stock worth $153,808,000 after purchasing an additional 1,531,952 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Caterpillar by 28,603.5% in the fourth quarter. International Assets Investment Management LLC now owns 1,494,018 shares of the industrial products company’s stock worth $4,417,360,000 after purchasing an additional 1,488,813 shares during the last quarter. 69.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Caterpillar

In related news, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the sale, the chief financial officer now owns 57,317 shares of the company’s stock, valued at $17,774,001.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Caterpillar news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $310.10, for a total value of $3,101,000.00. Following the completion of the sale, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Lange Bob De sold 21,194 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the completion of the sale, the insider now owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The disclosure for this sale can be found here. Insiders have sold a total of 41,194 shares of company stock valued at $13,000,471 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 22nd will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s payout ratio is currently 25.82%.

Caterpillar Company Profile

(Get Free Report)

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

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Earnings History and Estimates for Caterpillar (NYSE:CAT)

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