William Blair Weighs in on Caterpillar Inc.’s Q1 2024 Earnings (NYSE:CAT)

Caterpillar Inc. (NYSE:CATFree Report) – Equities research analysts at William Blair issued their Q1 2024 EPS estimates for shares of Caterpillar in a research note issued on Monday, February 5th. William Blair analyst L. De. Maria anticipates that the industrial products company will earn $5.36 per share for the quarter. The consensus estimate for Caterpillar’s current full-year earnings is $20.52 per share. William Blair also issued estimates for Caterpillar’s Q2 2024 earnings at $5.73 EPS, Q3 2024 earnings at $5.79 EPS and Q4 2024 earnings at $5.87 EPS.

Caterpillar (NYSE:CATGet Free Report) last announced its earnings results on Monday, February 5th. The industrial products company reported $5.23 earnings per share 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 firm had revenue of $17.07 billion for the quarter, compared to the consensus estimate of $17.06 billion. During the same period in the prior year, the firm earned $3.86 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis.

Other equities research analysts also recently issued reports about the stock. HSBC assumed coverage on shares of Caterpillar in a research report on Monday, November 20th. They issued a “hold” rating and a $250.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a research report on Tuesday. Morgan Stanley assumed coverage on shares of Caterpillar in a research report on Monday, January 8th. They issued an “equal weight” rating and a $270.00 price objective on the stock. Robert W. Baird increased 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. Finally, Stifel Nicolaus increased their target price on shares of Caterpillar from $285.00 to $293.00 and gave the company a “buy” rating in a research report on Tuesday, December 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $284.72.

Read Our Latest Analysis on Caterpillar

Caterpillar Trading Down 0.5 %

Shares of NYSE:CAT opened at $322.00 on Wednesday. Caterpillar has a 52 week low of $204.04 and a 52 week high of $334.87. The company’s 50 day moving average is $288.94 and its two-hundred day moving average is $273.12. The company has a current ratio of 1.35, a quick ratio of 0.92 and a debt-to-equity ratio of 1.25. The company has a market cap of $163.92 billion, a PE ratio of 15.99, a P/E/G ratio of 1.22 and a beta of 1.15.

Institutional Trading of Caterpillar

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. McIlrath & Eck LLC grew its holdings in shares of Caterpillar by 4.4% during the fourth quarter. McIlrath & Eck LLC now owns 789 shares of the industrial products company’s stock worth $233,000 after buying an additional 33 shares in the last quarter. Lodestar Private Asset Management LLC grew its holdings in shares of Caterpillar by 4.4% during the fourth quarter. Lodestar Private Asset Management LLC now owns 830 shares of the industrial products company’s stock worth $245,000 after buying an additional 35 shares in the last quarter. Desjardins Global Asset Management Inc. grew its holdings in shares of Caterpillar by 1.4% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 2,616 shares of the industrial products company’s stock worth $774,000 after buying an additional 35 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Caterpillar by 1.0% during the fourth quarter. Cornerstone Wealth Management LLC now owns 3,507 shares of the industrial products company’s stock worth $1,037,000 after buying an additional 36 shares in the last quarter. Finally, ACT Wealth Management LLC grew its holdings in shares of Caterpillar by 4.3% during the fourth quarter. ACT Wealth Management LLC now owns 877 shares of the industrial products company’s stock worth $259,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 69.20% of the company’s stock.

Insider Transactions at Caterpillar

In other news, insider Lange Bob De sold 21,194 shares of the firm’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 completion of the sale, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Lange Bob De sold 21,194 shares of the firm’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 completion of the sale, the insider now owns 61,092 shares in the company, valued at approximately $19,886,667.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total transaction of $3,000,400.00. Following the completion of the sale, the chief financial officer now owns 67,317 shares of the company’s stock, valued at approximately $20,197,792.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,194 shares of company stock worth $13,000,471. Company insiders own 0.33% of the company’s stock.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, January 22nd will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, January 19th. Caterpillar’s dividend payout ratio (DPR) is presently 25.82%.

Caterpillar Company Profile

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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.

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Earnings History and Estimates for Caterpillar (NYSE:CAT)

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