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Caterpillar Inc. (NYSE:CAT - Get Rating) - Jefferies Financial Group decreased their Q4 2022 EPS estimates for shares of Caterpillar in a report issued on Tuesday, August 2nd. Jefferies Financial Group analyst S. Volkmann now expects that the industrial products company will post earnings of $3.29 per share for the quarter, down from their prior estimate of $3.48. The consensus estimate for Caterpillar's current full-year earnings is $12.63 per share. Jefferies Financial Group also issued estimates for Caterpillar's Q1 2023 earnings at $3.35 EPS, Q2 2023 earnings at $3.60 EPS, Q3 2023 earnings at $3.50 EPS and Q4 2023 earnings at $4.00 EPS.
Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Caterpillar from $250.00 to $205.00 and set an "overweight" rating for the company in a report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Caterpillar from $240.00 to $227.00 and set a "buy" rating for the company in a report on Wednesday, July 13th. Sanford C. Bernstein cut shares of Caterpillar from an "outperform" rating to a "market perform" rating and set a $195.00 price objective for the company. in a report on Wednesday. Credit Suisse Group upped their target price on shares of Caterpillar from $226.00 to $236.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Cowen reduced their target price on shares of Caterpillar from $255.00 to $225.00 and set an "outperform" rating for the company in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $225.27.Caterpillar Stock Up 0.4 %
CAT opened at $183.64 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 1.66. The firm has a 50 day moving average price of $192.32 and a 200-day moving average price of $204.23. Caterpillar has a twelve month low of $167.08 and a twelve month high of $237.90. The stock has a market capitalization of $97.94 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.21 and a beta of 1.01.
Caterpillar (NYSE:CAT - Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The industrial products company reported $3.18 EPS for the quarter, topping the consensus estimate of $3.01 by $0.17. Caterpillar had a net margin of 12.50% and a return on equity of 37.29%. The business had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm posted $2.60 earnings per share. Caterpillar's quarterly revenue was up 10.5% on a year-over-year basis. Caterpillar Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Wednesday, July 20th will be paid a $1.20 dividend. The ex-dividend date is Tuesday, July 19th. This represents a $4.80 annualized dividend and a dividend yield of 2.61%. This is an increase from Caterpillar's previous quarterly dividend of $1.11. Caterpillar's dividend payout ratio is currently 38.40%. Insider Activity
In other news, insider Joseph E. Creed sold 2,757 shares of the stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $214.13, for a total value of $590,356.41. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.27% of the company's stock. Institutional Investors Weigh In On Caterpillar
Several hedge funds and other institutional investors have recently made changes to their positions in CAT. Crewe Advisors LLC increased its stake in Caterpillar by 322.6% in the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company's stock worth $27,000 after buying an additional 100 shares during the period. Nauset Wealth Management. LLC purchased a new position in Caterpillar during the 1st quarter valued at about $29,000. Arcadia Investment Management Corp MI purchased a new position in Caterpillar during the 1st quarter valued at about $33,000. Sierra Capital LLC purchased a new position in Caterpillar during the 4th quarter valued at about $38,000. Finally, Castle Wealth Management LLC purchased a new position in Caterpillar during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 67.44% of the company's stock. Caterpillar Company Profile (Get Rating)
Caterpillar Inc manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines worldwide. Its Construction Industries segment offers asphalt pavers, backhoe loaders, compactors, cold planers, compact track and multi-terrain loaders, excavators, motorgraders, pipelayers, road reclaimers, site prep tractors, skid steer loaders, telehandlers, and utility vehicles; mini, small, medium, and large excavators; compact, small, and medium wheel loaders; track-type tractors and loaders; and wheel excavators.Featured StoriesGet a free copy of the StockNews.com research report on Caterpillar (CAT)BJ’s Wholesale Club Stock Has More Room to Grow 3 Hotel Stocks to Consider Checking into After Earnings How Does Freeport McMoran Inc Compare to Its Sector Competitors?Can FuelCell Energy Surge Higher This Year?Is It Time to Take a Ride on Cedar Fair Stock?
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