Q3 2022 EPS Estimates for Caterpillar Inc. (NYSE:CAT) Reduced by William Blair

Caterpillar Inc. (NYSE:CAT – Get Rating) – William Blair cut their Q3 2022 earnings per share estimates for shares of Caterpillar in a report issued on Tuesday, August 2nd. William Blair analyst L. De. Maria now anticipates that the industrial products company will post earnings per share of $3.23 for the quarter, down from their previous forecast of $3.51. The consensus estimate for Caterpillar’s current full-year earnings is $12.63 per share. William Blair also issued estimates for Caterpillar’s Q4 2022 earnings at $3.47 EPS, FY2022 earnings at $12.75 EPS and FY2023 earnings at $13.50 EPS.

Caterpillar (NYSE:CAT – Get Rating) last released 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. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.39 billion. Caterpillar had a return on equity of 37.29% and a net margin of 12.50%. Caterpillar’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $2.60 EPS.

A number of other brokerages also recently issued reports on CAT. Citigroup cut their price target on Caterpillar from $225.00 to $190.00 in a report on Thursday, July 7th. Credit Suisse Group lifted their price target on Caterpillar from $226.00 to $236.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price objective on Caterpillar from $250.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Caterpillar in a report on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Caterpillar from $240.00 to $227.00 and set a “buy” rating for the company in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.27.

Caterpillar Trading Up 1.0 %

Shares of NYSE:CAT opened at $185.39 on Friday. Caterpillar has a 12-month low of $167.08 and a 12-month high of $237.90. The business’s fifty day simple moving average is $191.68 and its 200-day simple moving average is $203.92. The company has a market capitalization of $98.88 billion, a PE ratio of 14.83, a P/E/G ratio of 1.21 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 1.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAT. Crewe Advisors LLC boosted its holdings in shares of Caterpillar by 322.6% during the 4th quarter. Crewe Advisors LLC now owns 131 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Nauset Wealth Management. LLC acquired a new position in Caterpillar in the first quarter valued at approximately $29,000. Arcadia Investment Management Corp MI acquired a new position in Caterpillar in the first quarter valued at approximately $33,000. Castle Wealth Management LLC acquired a new position in Caterpillar in the second quarter valued at approximately $33,000. Finally, Investors Research Corp acquired a new position in Caterpillar in the second quarter valued at approximately $37,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Caterpillar news, insider Joseph E. Creed sold 2,757 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $214.13, for a total transaction of $590,356.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Wednesday, July 20th will be paid a dividend of $1.20 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.11. This represents a $4.80 annualized dividend and a yield of 2.59%. The ex-dividend date is Tuesday, July 19th. Caterpillar’s payout ratio is 38.40%.

Caterpillar Company Profile

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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.