Caterpillar Inc. Expected to Post Q2 2024 Earnings of $5.80 Per Share (NYSE:CAT)

Caterpillar Inc. (NYSE:CAT - Free Report) - Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Caterpillar in a note issued to investors on Tuesday, April 30th. DA Davidson analyst M. Shlisky forecasts that the industrial products company will earn $5.80 per share for the quarter. The consensus estimate for Caterpillar's current full-year earnings is $21.57 per share. DA Davidson also issued estimates for Caterpillar's FY2025 earnings at $22.87 EPS.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion.

Other analysts also recently issued reports about the stock. HSBC upped their target price on shares of Caterpillar from $330.00 to $360.00 and gave the stock a "hold" rating in a research report on Tuesday. StockNews.com downgraded shares of Caterpillar from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 20th. Oppenheimer reissued a "market perform" rating on shares of Caterpillar in a research report on Thursday, April 18th. Morgan Stanley began coverage on shares of Caterpillar in a research report on Monday, January 8th. They set an "equal weight" rating and a $270.00 price objective on the stock. Finally, Stifel Nicolaus downgraded shares of Caterpillar from a "buy" rating to a "hold" rating and increased their price objective for the company from $293.00 to $350.00 in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $323.35.

Caterpillar Stock Down 1.0 %

Shares of NYSE:CAT traded down $3.50 during midday trading on Wednesday, reaching $331.07. The company's stock had a trading volume of 3,511,934 shares, compared to its average volume of 2,525,907. The firm has a 50 day moving average of $351.36 and a 200-day moving average of $302.43. The firm has a market capitalization of $165.34 billion, a P/E ratio of 14.95, a PEG ratio of 1.51 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Caterpillar has a 12-month low of $205.60 and a 12-month high of $382.01.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, April 19th. Caterpillar's dividend payout ratio (DPR) is presently 23.48%.

Insider Transactions at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 10,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $310.10, for a total value of $3,101,000.00. Following the transaction, the chief financial officer now owns 57,317 shares in the company, valued at approximately $17,774,001.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David Maclennan bought 350 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were bought at an average price of $323.37 per share, for a total transaction of $113,179.50. Following the purchase, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $17,774,001.70. The disclosure for this sale can be found here. Insiders have sold 35,769 shares of company stock worth $11,508,906 in the last quarter. Company insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On Caterpillar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new stake in shares of Caterpillar during the first quarter valued at approximately $27,000. Fairman Group LLC bought a new stake in shares of Caterpillar during the first quarter valued at approximately $29,000. Finally, Gilfoyle & Co LLC bought a new stake in shares of Caterpillar during the fourth quarter valued at approximately $30,000. 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.