Q4 2024 EPS Estimates for Caterpillar Inc. Cut by Zacks Research (NYSE:CAT)

Caterpillar Inc. (NYSE:CAT) – Zacks Research cut their Q4 2024 earnings per share (EPS) estimates for Caterpillar in a research note issued to investors on Monday, August 19th. Zacks Research analyst M. Das now forecasts that the industrial products company will post earnings of $4.87 per share for the quarter, down from their previous estimate of $5.02. The consensus estimate for Caterpillar’s current full-year earnings is $21.57 per share. Zacks Research also issued estimates for Caterpillar’s Q2 2025 earnings at $5.51 EPS, Q3 2025 earnings at $5.39 EPS, Q4 2025 earnings at $5.23 EPS and FY2025 earnings at $21.71 EPS.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $5.99 EPS for the quarter, topping analysts’ consensus estimates of $5.53 by $0.46. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.91 billion. Caterpillar had a net margin of 16.79% and a return on equity of 58.61%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company posted $5.55 earnings per share.

A number of other research firms have also weighed in on CAT. Barclays upped their target price on shares of Caterpillar from $315.00 to $335.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. HSBC boosted their price target on shares of Caterpillar from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. StockNews.com raised shares of Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Raymond James began coverage on shares of Caterpillar in a research note on Friday, June 28th. They set a “market perform” rating for the company. Finally, Evercore ISI reduced their price objective on Caterpillar from $338.00 to $321.00 and set an “in-line” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Caterpillar presently has an average rating of “Hold” and an average target price of $336.31.

Caterpillar Stock Performance

Shares of CAT stock opened at $343.40 on Wednesday. Caterpillar has a 12 month low of $223.76 and a 12 month high of $382.01. The firm has a market capitalization of $167.94 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.72 and a beta of 1.12. The firm has a fifty day simple moving average of $335.11 and a two-hundred day simple moving average of $341.29. The company has a current ratio of 1.35, a quick ratio of 0.83 and a debt-to-equity ratio of 1.41.

Hedge Funds Weigh In On Caterpillar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Southland Equity Partners LLC raised its stake in shares of Caterpillar by 4.0% during the first quarter. Southland Equity Partners LLC now owns 784 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 30 shares in the last quarter. Davis Investment Partners LLC grew its position in shares of Caterpillar by 2.1% during the 1st quarter. Davis Investment Partners LLC now owns 1,454 shares of the industrial products company’s stock worth $541,000 after buying an additional 30 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Caterpillar by 0.3% during the first quarter. Private Trust Co. NA now owns 10,695 shares of the industrial products company’s stock valued at $3,919,000 after buying an additional 30 shares during the period. Hilltop National Bank raised its holdings in shares of Caterpillar by 1.2% in the second quarter. Hilltop National Bank now owns 2,636 shares of the industrial products company’s stock valued at $878,000 after acquiring an additional 31 shares in the last quarter. Finally, Exchange Capital Management Inc. lifted its stake in Caterpillar by 3.3% in the first quarter. Exchange Capital Management Inc. now owns 1,016 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 32 shares during the period. 70.98% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Cheryl H. Johnson sold 1,508 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $340.00, for a total value of $512,720.00. Following the completion of the sale, the insider now owns 20,023 shares of the company’s stock, valued at approximately $6,807,820. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.

Caterpillar announced that its board has approved a stock repurchase plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the industrial products company to buy up to 12.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Monday, July 22nd were issued a dividend of $1.41 per share. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. The ex-dividend date was Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is currently 25.46%.

About Caterpillar

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.