Q3 2022 EPS Estimates for Caterpillar Inc. (NYSE:CAT) Reduced by Oppenheimer

Caterpillar Inc. (NYSE:CATGet Rating) – Oppenheimer reduced their Q3 2022 earnings estimates for Caterpillar in a research report issued to clients and investors on Wednesday, August 3rd. Oppenheimer analyst N. Kaye now expects that the industrial products company will earn $3.28 per share for the quarter, down from their previous forecast of $3.31. The consensus estimate for Caterpillar’s current full-year earnings is $12.63 per share. Oppenheimer also issued estimates for Caterpillar’s Q4 2022 earnings at $3.60 EPS, FY2022 earnings at $12.94 EPS and FY2023 earnings at $14.47 EPS.

Several other research analysts have also recently commented on the stock. Tigress Financial raised their target price on shares of Caterpillar from $278.00 to $282.00 and gave the stock a “buy” rating in a report on Friday, May 20th. Cowen decreased their target price on shares of Caterpillar from $255.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, July 7th. Cowen dropped their price target on shares of Caterpillar from $255.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, July 7th. Credit Suisse Group lifted their target price on shares of Caterpillar from $226.00 to $236.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company dropped their price objective on shares of Caterpillar from $230.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $225.27.

Caterpillar Stock Performance

NYSE:CAT opened at $185.39 on Thursday. Caterpillar has a twelve month low of $167.08 and a twelve month high of $237.90. The firm has a market cap of $98.88 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. The company has a 50-day moving average of $191.68 and a 200-day moving average of $203.92. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66.

Caterpillar (NYSE:CATGet Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.17. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. The firm had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the previous year, the business earned $2.60 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CAT. Capital World Investors raised its holdings in shares of Caterpillar by 51.7% during the first quarter. Capital World Investors now owns 20,124,623 shares of the industrial products company’s stock valued at $4,484,176,000 after acquiring an additional 6,861,936 shares in the last quarter. Norges Bank purchased a new stake in shares of Caterpillar in the 4th quarter worth approximately $1,103,021,000. Ontario Teachers Pension Plan Board bought a new position in Caterpillar in the 1st quarter worth about $433,134,000. BlackRock Inc. raised its holdings in Caterpillar by 2.7% in the first quarter. BlackRock Inc. now owns 37,494,751 shares of the industrial products company’s stock worth $8,354,582,000 after buying an additional 992,608 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Caterpillar by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 48,223,787 shares of the industrial products company’s stock valued at $10,745,224,000 after acquiring an additional 663,885 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors.

Insider Activity at Caterpillar

In other Caterpillar news, insider Joseph E. Creed sold 2,757 shares of the stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $214.13, for a total transaction of $590,356.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by insiders.

Caterpillar Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be issued a dividend of $1.20 per share. This is a boost from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, July 19th. Caterpillar’s dividend payout ratio (DPR) is currently 38.40%.

Caterpillar Company Profile

(Get Rating)

Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.

Featured Stories

Earnings History and Estimates for Caterpillar (NYSE:CAT)

Want More Great Investing Ideas?

Receive News & Ratings for Caterpillar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Caterpillar and related companies with MarketBeat.com's FREE daily email newsletter.