Caterpillar Inc. to Post Q3 2024 Earnings of $5.00 Per Share, Zacks Research Forecasts (NYSE:CAT)

Caterpillar Inc. (NYSE:CAT - Free Report) - Equities research analysts at Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for Caterpillar in a note issued to investors on Wednesday, May 22nd. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings per share of $5.00 for the quarter, up from their previous forecast of $4.98. The consensus estimate for Caterpillar's current full-year earnings is $21.81 per share. Zacks Research also issued estimates for Caterpillar's Q4 2024 earnings at $5.02 EPS, Q2 2025 earnings at $5.62 EPS, Q3 2025 earnings at $5.29 EPS, Q4 2025 earnings at $5.29 EPS, FY2025 earnings at $21.55 EPS and FY2026 earnings at $22.95 EPS.

Several other equities analysts have also recently issued reports on the company. Oppenheimer reiterated a "market perform" rating on shares of Caterpillar in a report on Thursday, April 18th. The Goldman Sachs Group lifted their target price on Caterpillar from $357.00 to $408.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Stifel Nicolaus cut Caterpillar from a "buy" rating to a "hold" rating and lifted their price objective for the company from $293.00 to $350.00 in a report on Friday, April 26th. HSBC boosted their price target on Caterpillar from $330.00 to $360.00 and gave the stock a "hold" rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company upped their price target on Caterpillar from $290.00 to $325.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $323.35.

Caterpillar Stock Performance

Shares of NYSE CAT traded down $1.84 during trading hours on Friday, reaching $348.86. The stock had a trading volume of 2,633,857 shares, compared to its average volume of 2,475,004. The business's fifty day moving average is $356.94 and its two-hundred day moving average is $313.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.35 and a quick ratio of 0.83. The company has a market cap of $170.61 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.82 and a beta of 1.19. Caterpillar has a twelve month low of $205.60 and a twelve month high of $382.01.

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

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, April 22nd were paid a $1.30 dividend. The ex-dividend date was Friday, April 19th. This represents a $5.20 annualized dividend and a yield of 1.49%. Caterpillar's dividend payout ratio is presently 23.48%.

Insider Transactions at Caterpillar

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the transaction, the insider now directly owns 23,474 shares of the company's stock, valued at $7,741,725.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $329.80, for a total value of $1,508,835.00. Following the transaction, the insider now owns 23,474 shares in the company, valued at approximately $7,741,725.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Maclennan purchased 500 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the purchase, the director now directly owns 5,738 shares in the company, valued at $1,935,943.82. The disclosure for this purchase can be found here. Insiders own 0.33% of the company's stock.

Institutional Trading of Caterpillar

A number of large investors have recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC lifted its holdings in Caterpillar by 25,408.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 6,377 shares of the industrial products company's stock valued at $1,741,000 after purchasing an additional 6,352 shares during the last quarter. Main Street Financial Solutions LLC acquired a new stake in Caterpillar in the third quarter valued at $231,000. NBC Securities Inc. acquired a new stake in shares of Caterpillar during the 3rd quarter worth about $1,835,000. Achmea Investment Management B.V. lifted its stake in shares of Caterpillar by 5.2% during the 3rd quarter. Achmea Investment Management B.V. now owns 37,746 shares of the industrial products company's stock worth $10,305,000 after buying an additional 1,856 shares during the last quarter. Finally, Avantax Planning Partners Inc. increased its position in Caterpillar by 1.4% during the third quarter. Avantax Planning Partners Inc. now owns 6,818 shares of the industrial products company's stock worth $1,861,000 after acquiring an additional 93 shares during the period. 70.98% of the stock is currently owned by institutional investors.

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.