Q2 2024 Earnings Forecast for Caterpillar Inc. Issued By DA Davidson (NYSE:CAT)

Caterpillar Inc. (NYSE:CAT) – DA Davidson issued their Q2 2024 earnings per share estimates for Caterpillar in a research report issued on Tuesday, April 30th. DA Davidson analyst M. Shlisky expects that the industrial products company will post earnings per share of $5.80 for the quarter. The consensus estimate for Caterpillar’s current full-year earnings is $21.57 per share. DA Davidson also issued estimates for Caterpillar’s FY2025 earnings at $22.87 EPS.

Caterpillar (NYSE:CAT) last posted its earnings results on Thursday, April 25th. The industrial products company reported $5.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.12 by $0.48. The company had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%.

A number of other brokerages have also commented on CAT. Wells Fargo & Company raised their price target on Caterpillar from $290.00 to $325.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Stifel Nicolaus lowered Caterpillar from a “buy” rating to a “hold” rating and raised their price target for the company from $293.00 to $350.00 in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price target on Caterpillar from $385.00 to $435.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. StockNews.com lowered Caterpillar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 20th. Finally, Citigroup lifted their target price on Caterpillar from $255.00 to $340.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $323.35.

Caterpillar Price Performance

Shares of CAT opened at $331.07 on Wednesday. The firm has a market capitalization of $165.34 billion, a price-to-earnings ratio of 14.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.83 and a current ratio of 1.35. Caterpillar has a one year low of $205.60 and a one year high of $382.01. The stock’s fifty day moving average is $351.36 and its 200-day moving average is $302.43.

Caterpillar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, April 22nd will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Friday, April 19th. This represents a $5.20 dividend on an annualized basis and a yield of 1.57%. Caterpillar’s payout ratio is presently 23.48%.

Insiders Place Their Bets

In other Caterpillar news, Director David Maclennan acquired 350 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was purchased at an average cost of $323.37 per share, for a total transaction of $113,179.50. Following the transaction, the director now owns 5,238 shares of the company’s stock, valued at approximately $1,693,812.06. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Anthony D. Fassino sold 4,575 shares of Caterpillar stock in a transaction dated 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 in the company, valued at approximately $7,741,725.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David Maclennan purchased 350 shares of Caterpillar stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $323.37 per share, with a total value of $113,179.50. Following the completion of the acquisition, the director now owns 5,238 shares in the company, valued at $1,693,812.06. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 35,769 shares of company stock worth $11,508,906. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caterpillar

Institutional investors have recently made changes to their positions in the company. Partnership Wealth Management LLC bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $26,000. Richardson Financial Services Inc. bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $27,000. Thompson Investment Management Inc. bought a new position in shares of Caterpillar in the 1st quarter valued at approximately $27,000. Fairman Group LLC bought a new position in shares of Caterpillar in the 1st quarter valued at approximately $29,000. Finally, Gilfoyle & Co LLC bought a new position in shares of Caterpillar in the 4th quarter valued at approximately $30,000. 70.98% of the stock is currently 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.