Research Analysts Offer Predictions for Caterpillar Inc.’s Q1 2024 Earnings (NYSE:CAT)

Caterpillar Inc. (NYSE:CATFree Report) – Equities research analysts at DA Davidson issued their Q1 2024 EPS estimates for shares of Caterpillar in a report issued on Thursday, February 8th. DA Davidson analyst M. Shlisky forecasts that the industrial products company will post earnings per share of $5.22 for the quarter. The consensus estimate for Caterpillar’s current full-year earnings is $20.96 per share. DA Davidson also issued estimates for Caterpillar’s FY2025 earnings at $22.65 EPS.

Other analysts have also recently issued research reports about the stock. HSBC started coverage on shares of Caterpillar in a research note on Monday, November 20th. They issued a “hold” rating and a $250.00 price objective for the company. Robert W. Baird boosted their target price on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research report on Tuesday. StockNews.com cut shares of Caterpillar from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 20th. Sanford C. Bernstein boosted their target price on shares of Caterpillar from $216.00 to $245.00 and gave the company a “market perform” rating in a research report on Thursday, December 21st. Finally, TD Cowen boosted their target price on shares of Caterpillar from $300.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $284.72.

View Our Latest Stock Report on Caterpillar

Caterpillar Price Performance

Shares of Caterpillar stock opened at $322.00 on Friday. Caterpillar has a twelve month low of $204.04 and a twelve month high of $334.87. The company has a quick ratio of 0.92, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The company has a 50-day simple moving average of $288.94 and a two-hundred day simple moving average of $273.12. The stock has a market capitalization of $163.92 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15.

Caterpillar (NYSE:CATGet Free Report) last announced its earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, topping the consensus estimate of $4.76 by $0.47. Caterpillar had a net margin of 15.41% and a return on equity of 56.99%. The business had revenue of $17.07 billion during the quarter, compared to the consensus estimate of $17.06 billion. During the same quarter in the previous year, the firm posted $3.86 EPS. Caterpillar’s revenue was up 2.8% compared to the same quarter last year.

Institutional Trading of Caterpillar

Several hedge funds have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC grew its stake in Caterpillar by 130,632.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,784,017 shares of the industrial products company’s stock valued at $2,343,859,000 after acquiring an additional 9,776,533 shares in the last quarter. Geode Capital Management LLC lifted its position in Caterpillar by 1.7% during the second quarter. Geode Capital Management LLC now owns 9,532,245 shares of the industrial products company’s stock valued at $2,339,234,000 after purchasing an additional 156,608 shares during the last quarter. Fisher Asset Management LLC lifted its position in Caterpillar by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 8,145,840 shares of the industrial products company’s stock valued at $2,408,481,000 after purchasing an additional 179,908 shares during the last quarter. Northern Trust Corp lifted its position in Caterpillar by 1.6% during the third quarter. Northern Trust Corp now owns 6,962,809 shares of the industrial products company’s stock valued at $1,900,847,000 after purchasing an additional 111,384 shares during the last quarter. Finally, Morgan Stanley lifted its position in Caterpillar by 0.7% during the third quarter. Morgan Stanley now owns 6,830,849 shares of the industrial products company’s stock valued at $1,864,823,000 after purchasing an additional 47,258 shares during the last quarter. Institutional investors own 69.20% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lange Bob De sold 21,194 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total value of $6,899,070.88. Following the sale, the insider now directly owns 61,092 shares of the company’s stock, valued at approximately $19,886,667.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Lange Bob De sold 21,194 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $325.52, for a total transaction of $6,899,070.88. Following the transaction, the insider now directly owns 61,092 shares of the company’s stock, valued at $19,886,667.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $310.10, for a total transaction of $3,101,000.00. Following the transaction, the chief financial officer now directly owns 57,317 shares in the company, valued at $17,774,001.70. The disclosure for this sale can be found here. Insiders have sold 41,194 shares of company stock valued at $13,000,471 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Caterpillar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 22nd will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, January 19th. Caterpillar’s payout ratio is 25.82%.

Caterpillar Company Profile

(Get Free Report)

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in the United States and internationally. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, tractors, excavators, telehandlers, motor graders, and pipelayers; compact track and multi-terrain, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.

Further Reading

Earnings History and Estimates for Caterpillar (NYSE:CAT)

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.