Q1 2024 EPS Estimates for Caterpillar Inc. (NYSE:CAT) Boosted by Zacks Research

Caterpillar Inc. (NYSE:CAT) – Equities research analysts at Zacks Research boosted their Q1 2024 earnings per share (EPS) estimates for shares of Caterpillar in a note issued to investors on Wednesday, April 17th. Zacks Research analyst M. Das now expects that the industrial products company will earn $5.10 per share for the quarter, up from their previous forecast of $5.00. The consensus estimate for Caterpillar’s current full-year earnings is $21.33 per share. Zacks Research also issued estimates for Caterpillar’s Q2 2024 earnings at $5.41 EPS, Q3 2024 earnings at $5.29 EPS, Q4 2024 earnings at $5.21 EPS, FY2024 earnings at $21.01 EPS, Q1 2025 earnings at $5.14 EPS, Q2 2025 earnings at $5.80 EPS, Q3 2025 earnings at $5.83 EPS, Q4 2025 earnings at $5.53 EPS, FY2025 earnings at $22.31 EPS, Q1 2026 earnings at $5.26 EPS and FY2026 earnings at $22.71 EPS.

CAT has been the subject of several other research reports. Robert W. Baird raised their target price on Caterpillar from $210.00 to $257.00 and gave the stock an “underperform” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group raised their target price on Caterpillar from $357.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company raised their target price on Caterpillar from $290.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. JPMorgan Chase & Co. raised their target price on Caterpillar from $385.00 to $435.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Sanford C. Bernstein raised their target price on Caterpillar from $216.00 to $245.00 and gave the stock a “market perform” rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $307.56.

Caterpillar Trading Down 0.1 %

Caterpillar stock opened at $357.93 on Thursday. Caterpillar has a 12 month low of $204.04 and a 12 month high of $382.01. The company has a quick ratio of 0.87, a current ratio of 1.35 and a debt-to-equity ratio of 1.25. The business has a 50 day moving average price of $345.95 and a two-hundred day moving average price of $297.21. The stock has a market cap of $178.75 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 1.60 and a beta of 1.17.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Monday, February 5th. The industrial products company reported $5.23 EPS for the quarter, beating the consensus estimate of $4.76 by $0.47. The firm had revenue of $17.07 billion during the quarter, compared to analysts’ expectations of $17.06 billion. Caterpillar had a return on equity of 56.99% and a net margin of 15.41%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.86 EPS.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, April 22nd will be paid a $1.30 dividend. The ex-dividend date is Friday, April 19th. This represents a $5.20 annualized dividend and a dividend yield of 1.45%. Caterpillar’s dividend payout ratio (DPR) is currently 25.82%.

Insider Activity

In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on 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 approximately $7,741,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $329.80, for a total transaction 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $300.04, for a total value of $3,000,400.00. Following the sale, the chief financial officer now directly owns 67,317 shares of the company’s stock, valued at $20,197,792.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,769 shares of company stock valued at $14,509,306. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On Caterpillar

A number of institutional investors have recently made changes to their positions in the stock. Atlas Capital Advisors LLC grew its stake in Caterpillar by 272.4% in the first quarter. Atlas Capital Advisors LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 79 shares during the period. Aspect Partners LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $25,000. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Caterpillar by 730.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 108 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 95 shares in the last quarter. Partnership Wealth Management LLC bought a new stake in shares of Caterpillar in the fourth quarter valued at about $26,000. Finally, Richardson Financial Services Inc. bought a new stake in shares of Caterpillar in the fourth quarter valued at about $27,000. 70.98% of the stock is owned by institutional investors and hedge funds.

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.