Q3 2024 Earnings Forecast for Caterpillar Inc. Issued By Zacks Research (NYSE:CAT)

Caterpillar Inc. (NYSE:CAT) – Zacks Research raised their Q3 2024 earnings estimates for shares of Caterpillar in a research report issued to clients and investors on Wednesday, May 22nd. Zacks Research analyst M. Das now expects that the industrial products company will post earnings of $5.00 per share 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 commented on CAT. TD Cowen upped their price objective on shares of Caterpillar from $338.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Robert W. Baird boosted their price target on shares of Caterpillar from $210.00 to $257.00 and gave the company an “underperform” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group raised their target price on shares of Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus downgraded Caterpillar from a “buy” rating to a “hold” rating and upped their price objective for the company from $293.00 to $350.00 in a research note on Friday, April 26th. Finally, Wells Fargo & Company boosted their price target on shares of Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Caterpillar presently has a consensus rating of “Hold” and an average price target of $323.35.

Caterpillar Stock Performance

NYSE CAT opened at $348.86 on Friday. The stock has a market cap of $170.61 billion, a PE ratio of 15.75, a P/E/G 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. The stock has a fifty day simple moving average of $356.99 and a 200-day simple moving average of $314.38. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

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

Institutional Investors Weigh In On Caterpillar

Several large investors have recently added to or reduced their stakes in the stock. Cetera Advisors LLC boosted its stake in Caterpillar by 68.8% during the 1st quarter. Cetera Advisors LLC now owns 94,401 shares of the industrial products company’s stock valued at $34,591,000 after purchasing an additional 38,471 shares during the period. PGGM Investments grew its stake in shares of Caterpillar by 5.5% in the 1st quarter. PGGM Investments now owns 57,832 shares of the industrial products company’s stock worth $21,191,000 after purchasing an additional 3,007 shares during the last quarter. FSA Advisors Inc. increased its holdings in shares of Caterpillar by 8.9% in the first quarter. FSA Advisors Inc. now owns 1,260 shares of the industrial products company’s stock valued at $462,000 after buying an additional 103 shares in the last quarter. Orleans Capital Management Corp LA lifted its holdings in shares of Caterpillar by 11.8% during the first quarter. Orleans Capital Management Corp LA now owns 7,363 shares of the industrial products company’s stock valued at $2,698,000 after purchasing an additional 778 shares during the last quarter. Finally, Atria Investments Inc boosted its holdings in shares of Caterpillar by 7.8% in the first quarter. Atria Investments Inc now owns 45,729 shares of the industrial products company’s stock worth $16,753,000 after buying an additional 3,299 shares during the period. 70.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Caterpillar news, insider Anthony D. Fassino sold 4,575 shares of the business’s 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 Securities & Exchange Commission, which is accessible through this link. In related news, insider Anthony D. Fassino sold 4,575 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total value of $1,508,835.00. Following the completion of the sale, 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 can be accessed through this link. Also, insider Lange Bob De sold 21,847 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $356.90, for a total value of $7,797,194.30. Following the transaction, the insider now owns 71,115 shares in the company, valued at $25,380,943.50. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, April 22nd were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, April 19th. Caterpillar’s payout ratio is currently 23.48%.

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.