FY2024 Earnings Estimate for Caterpillar Inc. (NYSE:CAT) Issued By Zacks Research

Caterpillar Inc. (NYSE:CAT - Free Report) - Equities research analysts at Zacks Research increased their FY2024 earnings per share estimates for Caterpillar in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst M. Das now forecasts that the industrial products company will earn $21.12 per share for the year, up from their prior estimate of $21.01. The consensus estimate for Caterpillar's current full-year earnings is $21.80 per share. Zacks Research also issued estimates for Caterpillar's Q1 2025 earnings at $5.35 EPS and Q1 2026 earnings at $5.56 EPS.

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

A number of other brokerages also recently commented on CAT. Citigroup upped their target price on Caterpillar from $255.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, February 12th. Robert W. Baird lifted their target price on Caterpillar from $210.00 to $257.00 and gave the company an "underperform" rating in a report on Tuesday, February 6th. Oppenheimer reiterated a "market perform" rating on shares of Caterpillar in a report on Thursday, April 18th. Truist Financial started coverage on Caterpillar in a report on Thursday, March 14th. They issued a "buy" rating and a $390.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on Caterpillar from $385.00 to $435.00 and gave the company an "overweight" rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $323.35.

Caterpillar Stock Performance

Shares of CAT traded down $5.24 during mid-day trading on Thursday, reaching $350.70. The company had a trading volume of 2,748,800 shares, compared to its average volume of 2,473,414. Caterpillar has a 52-week low of $205.60 and a 52-week high of $382.01. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $171.51 billion, a P/E ratio of 15.95, a PEG ratio of 1.84 and a beta of 1.19. The stock has a 50 day moving average of $356.77 and a two-hundred day moving average of $313.36.

Caterpillar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, April 22nd were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Friday, April 19th. Caterpillar's dividend payout ratio (DPR) is presently 23.48%.

Insider Activity at Caterpillar

In other Caterpillar news, Director David Maclennan bought 350 shares of the company'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 transaction, the director now owns 5,238 shares of the company's stock, valued at approximately $1,693,812.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Anthony D. Fassino sold 4,575 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction of $1,508,835.00. Following the sale, the insider now owns 23,474 shares of the company's stock, valued at approximately $7,741,725.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Maclennan purchased 350 shares of the firm's stock in a transaction dated Friday, February 23rd. The shares were purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the purchase, the director now directly owns 5,238 shares in the company, valued at $1,693,812.06. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Caterpillar

Several institutional investors have recently modified their holdings of the company. FSA Advisors Inc. boosted its stake in shares of Caterpillar by 8.9% during the 1st quarter. FSA Advisors Inc. now owns 1,260 shares of the industrial products company's stock worth $462,000 after acquiring an additional 103 shares in the last quarter. Orleans Capital Management Corp LA lifted its stake in Caterpillar by 11.8% in the 1st quarter. Orleans Capital Management Corp LA now owns 7,363 shares of the industrial products company's stock valued at $2,698,000 after buying an additional 778 shares in the last quarter. Atria Investments Inc lifted its stake in Caterpillar by 7.8% in the 1st quarter. Atria Investments Inc now owns 45,729 shares of the industrial products company's stock valued at $16,753,000 after buying an additional 3,299 shares in the last quarter. Swedbank AB purchased a new stake in Caterpillar in the 1st quarter valued at approximately $97,042,000. Finally, LRI Investments LLC purchased a new stake in Caterpillar in the 1st quarter valued at approximately $678,000. Hedge funds and other 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.