Q1 EPS Estimates for Caterpillar Increased by Zacks Research

Key Points

• Zacks Research raised Caterpillar’s Q1 2028 EPS estimate to $8.14 from $7.87, while forecasting $10.52 for Q2 2028 and $39.15 for full-year 2028. Zacks maintains a “Hold” rating.
• Caterpillar’s latest quarterly results beat expectations, with EPS of $8.17 versus the $6.22 consensus and revenue of $20.54 billion, up 23.7% year over year.
• The stock was trading near $813, down 5.8%, amid mixed analyst views; the consensus rating remains “Moderate Buy” with an average price target of $989.17, while institutional investors own nearly 71% of shares.

Caterpillar Inc. (NYSE:CAT - Free Report) - Zacks Research lifted their Q1 2028 earnings per share (EPS) estimates for shares of Caterpillar in a research note issued to investors on Tuesday, October 6th. Zacks Research analyst Team now forecasts that the industrial products company will post earnings per share of $8.14 for the quarter, up from their previous forecast of $7.87. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Caterpillar's current full-year earnings is $27.50 per share. Zacks Research also issued estimates for Caterpillar's Q2 2028 earnings at $10.52 EPS and FY2028 earnings at $39.15 EPS.

Other research analysts also recently issued research reports about the company. Oppenheimer restated an "outperform" rating and issued a $1,118.00 target price on shares of Caterpillar in a research note on Tuesday, August 4th. JPMorgan Chase & Co. boosted their target price on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 17th. UBS Group lifted their price objective on shares of Caterpillar from $900.00 to $925.00 and gave the company a "neutral" rating in a research note on Wednesday, August 5th. Robert W. Baird set a $970.00 target price on shares of Caterpillar in a research report on Wednesday, August 5th. Finally, Truist Financial lowered their price objective on Caterpillar from $1,225.00 to $1,100.00 and set a "buy" rating on the stock in a report on Monday. Fifteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $989.17.

Caterpillar Trading Down 5.8%

NYSE CAT opened at $813.03 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. Caterpillar has a twelve month low of $489.34 and a twelve month high of $1,073.46. The firm's 50 day moving average price is $822.83 and its two-hundred day moving average price is $853.15. The stock has a market cap of $373.72 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 1.49 and a beta of 1.58.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same period in the prior year, the business posted $4.72 earnings per share. Caterpillar's revenue was up 23.7% compared to the same quarter last year.

Institutional Investors Weigh In On Caterpillar

Hedge funds have recently made changes to their positions in the stock. Vann Equity Management LLC lifted its position in shares of Caterpillar by 3.8% in the 3rd quarter. Vann Equity Management LLC now owns 2,097 shares of the industrial products company's stock worth $1,701,000 after acquiring an additional 76 shares during the period. Venture Visionary Partners LLC increased its position in shares of Caterpillar by 6.3% during the third quarter. Venture Visionary Partners LLC now owns 24,185 shares of the industrial products company's stock valued at $19,610,000 after purchasing an additional 1,430 shares during the period. Steph & Co. raised its stake in shares of Caterpillar by 1,512.2% in the third quarter. Steph & Co. now owns 661 shares of the industrial products company's stock valued at $536,000 after purchasing an additional 620 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in Caterpillar by 77.2% in the third quarter. Elevation Wealth Partners LLC now owns 296 shares of the industrial products company's stock worth $240,000 after purchasing an additional 129 shares during the period. Finally, Cooper Financial Group boosted its stake in Caterpillar by 8.6% during the third quarter. Cooper Financial Group now owns 5,097 shares of the industrial products company's stock worth $4,132,000 after buying an additional 403 shares in the last quarter. Institutional investors own 70.98% of the company's stock.

Insiders Place Their Bets

In other news, CEO Joseph E. Creed sold 32,401 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the transaction, the chief executive officer owned 34,555 shares in the company, valued at approximately $27,954,303.90. The trade was a 48.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar plans to invest $1 billion to expand its Cat Compact manufacturing operations in North Carolina. The project will add advanced automation and digital systems, increase U.S. production capacity and support expected customer demand. Caterpillar to invest $1 billion in North Carolina manufacturing facility
• Positive Sentiment: Zacks Research raised its Caterpillar EPS forecasts across 2026–2028, including its 2027 estimate to $32.44 per share from $31.43, while maintaining a favorable long-term view. Other coverage described the recent pullback as a potential buying opportunity, citing Caterpillar’s growing role in supplying power-related equipment for data centers. Caterpillar Q3 Earnings Forecast Boosted by Zacks Research Jim Cramer Sees a Possible Buying Opportunity in Caterpillar
• Neutral Sentiment: Caterpillar and CoreWeave are collaborating to accelerate development of physical-AI applications, potentially improving equipment automation and industrial productivity over time. Caterpillar and CoreWeave shorten the learning loop for physical AI
• Negative Sentiment: Rising long-term Treasury yields are pressuring manufacturers of expensive machinery because higher financing costs can delay equipment purchases and make customers’ credit more costly. The broader industrial selloff has weighed particularly heavily on Caterpillar.
• Negative Sentiment: The Federal Trade Commission and Department of Agriculture are seeking information about the farm-equipment market, extending regulatory pressure affecting Caterpillar and Deere. Investors may be concerned about potential scrutiny of industry practices and market competition. Caterpillar and Deere Stock Fall as Regulatory Pressure Continues
• Negative Sentiment: Truist lowered its Caterpillar price target to $1,100 from $1,225. Zacks also cut its rating from “Strong Buy” to “Hold,” adding to near-term selling pressure even as several earnings estimates were raised. Truist cuts target for Caterpillar stock

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.

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