Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its Construction Industries segment offers asphalt pavers, compactors, cold planers, motorgraders, pipelayers, road reclaimers, telehandlers, and utility vehicles; backhoe, compact track, multi-terrain, skid steer, and track-type loaders; forestry and wheel excavators; and site prep and track-type tractors. The company's Resource Industries segment provides electric rope and hydraulic shovels, draglines, rotary drills, hard rock vehicles, track-type tractors, mining trucks, longwall miners, wheel loaders, off-highway and articulated trucks, wheel tractor scrapers, wheel dozers, landfill and soil compactors, machinery components, autonomous ready vehicles and solutions, and select work tools. Its Energy & Transportation segment offers reciprocating engine powered generator sets; reciprocating engines and integrated systems for the power generation, marine, oil, and gas industries; turbines, centrifugal gas compressors, and related services; remanufactured reciprocating engines and components; and diesel-electric locomotives and components, and other rail-related products. The company's Financial Products segment provides operating and finance leases, installment sale contracts, working capital loans, and wholesale financing; and insurance and risk management, as well as other equipment-related loans. Its All Other Operating segment offers filters and fluids, undercarriage, ground engaging tools, fluid transfer products, precision seals, and rubber sealing and connecting components; parts distribution; integrated logistics solutions; portfolio management; brand management and marketing strategy; and digital investments services. The company was formerly known as Caterpillar Tractor Co. The company was founded in 1925 and is headquartered in Deerfield, Illinois.
IPO Year:
Exchange: NYSE
Website: caterpillar.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
6/28/2024 | Mkt Perform | Raymond James | |
6/26/2024 | $380.00 | Buy | Citigroup |
4/26/2024 | $338.00 → $340.00 | Buy | TD Cowen |
4/26/2024 | $293.00 → $350.00 | Buy → Hold | Stifel |
3/14/2024 | $390.00 | Buy | Truist |
2/20/2024 | $321.00 → $338.00 | Outperform → In-line | Evercore ISI |
2/6/2024 | $300.00 → $338.00 | Outperform | TD Cowen |
1/8/2024 | $270.00 | Equal-Weight | Morgan Stanley |
11/20/2023 | $250.00 | Hold | HSBC Securities |
7/17/2023 | $240.00 → $270.00 | Neutral | Citigroup |
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IRVING, Texas, June 12, 2024 /PRNewswire/ -- The Board of Directors of Caterpillar Inc. (NYSE:CAT) voted today to raise the quarterly dividend by eleven cents, an 8% increase, to one dollar and forty-one cents ($1.41) per share of common stock, payable August 20, 2024, to shareholders of record at the close of business on July 22, 2024. The Board of Directors also added $20 billion to its current share repurchase authorization, which was launched in 2022 with no expiration date. With the new authorization, Caterpillar Inc. may repurchase up to approximately $21.8 billion of its common stock. Caterpillar expects to continue to return substantially all Machinery, Energy & Transportation (ME&T)
First-quarter 2024 profit per share of $5.75; adjusted profit per share of $5.60Enterprise operating cash flow was $2.1 billion in the first quarter of 2024Deployed $5.1 billion of cash for share repurchases and dividends in the first quarterFirst Quarter ($ in billions except profit per share) 2024 2023 Sales and Revenues $15.8 $15.9 Profit Per Share $5.75 $3.74 Adjusted Profit Per Share $5.60 $4.91 Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on pages 12 and 13. IRVING, Texas, April 25, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) announced first-quarter 2024 results. Sales and revenues for the first quarter of 2024 were $15.8 billion, about flat t
IRVING, Texas, April 11, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) will release first-quarter 2024 financial results at 5:30 a.m. CDT on Thursday, April 25. The full text of the release will be available at investors.caterpillar.com/financials/quarterly-results or on PR Newswire at approximately 5:30 a.m. CDT. The release will be furnished to the U.S. Securities and Exchange Commission (SEC) via a Current Report on Form 8-K in compliance with applicable SEC rules. Teleconference and webcast access:A real-time, listen-only teleconference and webcast of the quarterly resu
IRVING, Texas, April 10, 2024 /PRNewswire/ -- The Board of Directors of Caterpillar Inc. (NYSE:CAT) voted today to maintain the quarterly dividend of one dollar and thirty cents ($1.30) per share of common stock, payable May 20, 2024, to shareholders of record at the close of business on April 22, 2024. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 30 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Ind
Fourth-quarter 2023 sales and revenues up 3%; full-year sales and revenues up 13%Fourth-quarter 2023 profit per share of $5.28; adjusted profit per share of $5.23Full-year profit per share of $20.12; adjusted profit per share of $21.21Strong operating cash flow of $12.9 billion; ended the year with $7.0 billion of enterprise cashReturned $7.5 billion to shareholders through share repurchases and dividends in 2023Fourth Quarter Full Year ($ in billions except profit per share) 2023 2022 2023 2022 Sales and Revenues $17.1 $16.6 $67.1 $59.4 Profit Per Share $5.28 $2.79 $20.12 $12.64 Adjusted Profit Per Share $5.23 $3.86 $21.21 $13.84 IRVING, Texas, Feb. 5, 2024 /PRNewswire/ -- Caterpillar Inc
Researched by Industrial Info Resources--Growing demand for copper and higher prices for gold are boosting fortunes at Freeport-McMoRan Incorporated ((FCX) (Phoenix, Arizona), which expects to sell 4.1 billion pounds of copper, 2 million ounces of gold and 85 million pounds of molybdenum in 2024. Those expectations for copper are flat when compared with 2023's results, but exceed last year's sales of gold and molybdenum. Closures and disruptions at various copper mines worldwide have driven prices higher for the metal, which is a necessary component for clean-energy technology and electric-vehicle batteries. Industrial Info is tracking nearly $13 billion worth of active and planned projects
IRVING, Texas, Jan. 22, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) will release fourth-quarter and full-year 2023 financial results at 5:30 a.m. CST on Monday, Feb. 5. The release will be available at investors.caterpillar.com/financials/quarterly-results, and the full text of the news release will also be available on PR Newswire at approximately 5:30 a.m. CST. The release will be furnished to the U.S. Securities and Exchange Commission (SEC) via a Current Report on Form 8-K in compliance with applicable SEC rules. Teleconference and webcast access:A real-time, listen-
IRVING, Texas, Dec. 13, 2023 /PRNewswire/ -- The Board of Directors of Caterpillar Inc. (NYSE:CAT) voted yesterday to maintain the quarterly dividend of one dollar and thirty cents ($1.30) per share of common stock, payable Feb. 20, 2024, to shareholders of record at the close of business on Jan. 22, 2024. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 30 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats
FREYR Battery (NYSE:FREY) ("FREYR" or the "Company"), a developer of clean, next-generation battery cell production capacity, today reported financial results for the third quarter of 2023. Highlights of the Third Quarter 2023 and Subsequent Events: Following operations updates published on September 6, 2023, and October 4, 2023, highlighting the achievements of interim technical milestones, the timeline for completing the highly complex commissioning of the Casting and Unit Cell Assembly equipment at the Customer Qualification Plant ("CQP") has moved beyond 4Q 2023. FREYR has implemented a plan intended to prevent further delays, which includes enhanced involvement of technology and b
IRVING, Texas, Oct. 11, 2023 /PRNewswire/ -- The Board of Directors of Caterpillar Inc. (NYSE:CAT) voted today to maintain the quarterly dividend of one dollar and thirty cents ($1.30) per share of common stock, payable Nov. 20, 2023, to shareholders of record at the close of business on Oct. 23, 2023. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. With this dividend payment, Caterpillar will have paid higher annual dividends to shareholders for 30 consecutive years and is recognized as a member of the
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IRVING, Texas, June 12, 2024 /PRNewswire/ -- The Board of Directors of Caterpillar Inc. (NYSE:CAT) voted today to raise the quarterly dividend by eleven cents, an 8% increase, to one dollar and forty-one cents ($1.41) per share of common stock, payable August 20, 2024, to shareholders of record at the close of business on July 22, 2024. The Board of Directors also added $20 billion to its current share repurchase authorization, which was launched in 2022 with no expiration date. With the new authorization, Caterpillar Inc. may repurchase up to approximately $21.8 billion of its common stock. Caterpillar expects to continue to return substantially all Machinery, Energy & Transportation (ME&T)
IRVING, Texas, May 20, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) announced the formation of a new educational program designed to support mining, quarry and aggregate industry customers on their energy transition journeys. The Pathways to Sustainability program is a four-year, multi-pronged experience that provides participants with holistic learning opportunities, energy transition project advisement and additional benefits related to sustainable product access. The emphasis of the program is on understanding each participating company's sustainability objectives and p
Reports highlight progress on sustainability and enterprise strategy IRVING, Texas, May 7, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) today released its latest reports highlighting the company's environmental, social and governance (ESG) commitment, record financial accomplishments and contributions to helping customers build a better, more sustainable world. "We're pleased to highlight the great strides the Caterpillar global team is making in executing our strategy and investing for long-term profitable growth. These reports tell the stories of our outstanding 2023 fi
IRVING, Texas, May 3, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) will hold a virtual annual shareholder meeting on Wednesday, June 12, 2024, at 8 a.m. CDT. Shareholders owning Caterpillar common stock at the close of business on April 15, 2024, or their legal proxy holders, are entitled to participate, submit questions and vote on several items at the virtual annual meeting. Attendance and registration details, as well as information on items of business to be addressed at the meeting, can be found on page 77 in Caterpillar's 2024 proxy statement at www.caterpillar.com/p
IRVING, Texas, April 29, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT, PARIS:CATR) (the "Company" or "Caterpillar") today announced that, following a comprehensive review of the significantly low trading volume, costs and administrative requirements related to the listing of its common stock (ISIN US1491231015) on exchanges other than the New York Stock Exchange ("NYSE"), it requested the voluntary delisting of its shares from the regulated market of Euronext in Paris ("Euronext Paris"). This request has been approved by the Board of Directors of Euronext Paris S.A. In addi
NASHVILLE, Tenn., April 25, 2024 /PRNewswire/ -- Cat Financial reported first-quarter 2024 revenues of $853 million, an increase of $85 million, or 11%, compared with $768 million in the first quarter of 2023. The increase in revenues was primarily due to a $69 million favorable impact from higher average financing rates and a $32 million favorable impact from higher average earning assets. First-quarter 2024 profit was $169 million, an increase of $20 million, or 13%, compared with $149 million in the first quarter of 2023. First-quarter 2024 profit before income taxes was $229 million, an increase of $25 million, or 12%, compared with $204 million in the first quarter of 2023. The increas
First-quarter 2024 profit per share of $5.75; adjusted profit per share of $5.60Enterprise operating cash flow was $2.1 billion in the first quarter of 2024Deployed $5.1 billion of cash for share repurchases and dividends in the first quarterFirst Quarter ($ in billions except profit per share) 2024 2023 Sales and Revenues $15.8 $15.9 Profit Per Share $5.75 $3.74 Adjusted Profit Per Share $5.60 $4.91 Please see a reconciliation of GAAP to non-GAAP financial measures in the appendix on pages 12 and 13. IRVING, Texas, April 25, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) announced first-quarter 2024 results. Sales and revenues for the first quarter of 2024 were $15.8 billion, about flat t
IRVING, Texas, April 11, 2024 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) will release first-quarter 2024 financial results at 5:30 a.m. CDT on Thursday, April 25. The full text of the release will be available at investors.caterpillar.com/financials/quarterly-results or on PR Newswire at approximately 5:30 a.m. CDT. The release will be furnished to the U.S. Securities and Exchange Commission (SEC) via a Current Report on Form 8-K in compliance with applicable SEC rules. Teleconference and webcast access:A real-time, listen-only teleconference and webcast of the quarterly resu
IRVING, Texas, April 10, 2024 /PRNewswire/ -- The Board of Directors of Caterpillar Inc. (NYSE:CAT) voted today to maintain the quarterly dividend of one dollar and thirty cents ($1.30) per share of common stock, payable May 20, 2024, to shareholders of record at the close of business on April 22, 2024. Caterpillar has paid a cash dividend every year since the company was formed and has paid a quarterly dividend since 1933. Caterpillar has paid higher annual dividends to shareholders for 30 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Ind
NASHVILLE, Tenn., Feb. 5, 2024 /PRNewswire/ -- Full-Year 2023 vs. Full-Year 2022 Cat Financial reported revenues of $3.25 billion for 2023, an increase of $514 million, or 19%, compared with $2.73 billion for 2022. The increase in revenues was primarily due to a $450 million favorable impact from higher average financing rates. Profit was $563 million for 2023, an increase of $28 million, or 5%, compared with $535 million for 2022. Profit before income taxes was $760 million for 2023, an increase of $29 million, or 4%, compared with $731 million for 2022. The increase was primarily due to a $56 million increase in net yield on average earning assets and a $32 million favorable impact from
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Raymond James initiated coverage of Caterpillar with a rating of Mkt Perform
Citigroup initiated coverage of Caterpillar with a rating of Buy and set a new price target of $380.00
TD Cowen reiterated coverage of Caterpillar with a rating of Buy and set a new price target of $340.00 from $338.00 previously
Stifel downgraded Caterpillar from Buy to Hold and set a new price target of $350.00 from $293.00 previously
Truist initiated coverage of Caterpillar with a rating of Buy and set a new price target of $390.00
Evercore ISI downgraded Caterpillar from Outperform to In-line and set a new price target of $338.00 from $321.00 previously
TD Cowen reiterated coverage of Caterpillar with a rating of Outperform and set a new price target of $338.00 from $300.00 previously
Morgan Stanley initiated coverage of Caterpillar with a rating of Equal-Weight and set a new price target of $270.00
HSBC Securities initiated coverage of Caterpillar with a rating of Hold and set a new price target of $250.00
Citigroup reiterated coverage of Caterpillar with a rating of Neutral and set a new price target of $270.00 from $240.00 previously
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Deep-pocketed investors have adopted a bearish approach towards Caterpillar (NYSE:CAT), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CAT usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 19 extraordinary options activities for Caterpillar. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 42% leaning bullish and 47% bearish. Among these notable options, 3
Broad stock market indexes like the S&P 500 hit all-time highs in the first half of 2024. The Dow Jones Industrial Average also hit all-time highs, but saw a smaller return in the first half of the year. Here's a look at the biggest gainers and laggards in the Dow Jones Industrial Average. What Happened: The Dow Jones Industrial Average was created in 1896 by Charles Dow and is one of the oldest and most followed equity indexes for overall stock market health. The Dow Jones Industrial Average hit all-time highs of more than 40,000 in May 2024. The Dow Jones Industrial Average consists of 30 stocks on a price-weighted basis. The Dow Jones Industrial Average ETF (NYSE:DIA), which tr
Deep-pocketed investors have adopted a bullish approach towards Caterpillar (NYSE:CAT), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CAT usually suggests something big is about to happen. We gleaned this information from our observations today when Benzinga's options scanner highlighted 37 extraordinary options activities for Caterpillar. This level of activity is out of the ordinary. The general mood among these heavyweight investors is divided, with 48% leaning bullish and 37% bearish. Among these notable options, 27
Raymond James analyst Tim Thein initiates coverage on Caterpillar (NYSE:CAT) with a Market Perform rating.
Across the recent three months, 6 analysts have shared their insights on Caterpillar (NYSE:CAT), expressing a variety of opinions spanning from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 1 2 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 0 1 0 0 3M Ago 2 1 1 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $378.83, a high estimate of $435.00, and a low estimate of $340.00. This upwa
Citigroup analyst Kyle Menges initiates coverage on Caterpillar (NYSE:CAT) with a Buy rating and announces Price Target of $380.
Investors with a lot of money to spend have taken a bearish stance on Caterpillar (NYSE:CAT). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CAT, it often means somebody knows something is about to happen. So how do we know what these investors just did? Today, Benzinga's options scanner spotted 11 uncommon options trades for Caterpillar. This isn't normal. The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish. Out of all of the specia
Caterpillar (NYSE:CAT) has outperformed the market over the past 15 years by 4.01% on an annualized basis producing an average annual return of 16.6%. Currently, Caterpillar has a market capitalization of $161.70 billion. Buying $1000 In CAT: If an investor had bought $1000 of CAT stock 15 years ago, it would be worth $9,517.56 today based on a price of $330.64 for CAT at the time of writing. Caterpillar's Performance Over Last 15 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated content engine
Financial giants have made a conspicuous bullish move on Caterpillar. Our analysis of options history for Caterpillar (NYSE:CAT) revealed 10 unusual trades. Delving into the details, we found 50% of traders were bullish, while 40% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $166,690, and 5 were calls, valued at $233,261. Projected Price Targets After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $240.0 and $370.0 for Caterpillar, spanning the last three months. Insights into Volume & Open Interest Assessing the volume and open interest is a strategic step in option
IRVING, Texas, Dec. 14, 2023 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) announced today that Jason Kaiser, senior vice president of the Electric Power Division, has been appointed to Group President of the Energy & Transportation (E&T) segment, effective Jan. 1, 2024. In this role, Kaiser will have responsibility for the Rail Division, Solar Turbines, Large Power Systems Division, Industrial Power Systems Division, Electric Power Division (EPD), Caterpillar Oil & Gas and Marine Division (COGMD), Cat Reman® and Electrification and Energy Solutions Division. "Jason's extensiv
Judith Marks and James Fish, Jr. to Join the Board; Thanks to Edward Rust for Service IRVING, Texas, Feb. 1, 2023 /PRNewswire/ -- Caterpillar Inc. (NYSE:CAT) today announced that Judith (Judy) Marks, Chair, CEO and President of Otis Worldwide Corporation, and James (Jim) Fish, Jr., President and CEO of Waste Management (WM), have been appointed to the Caterpillar board of directors, effective March 1, 2023. Marks will serve on Caterpillar's Audit Committee and Compensation and Human Resources Committee. Fish will serve on Caterpillar's Audit Committee and Sustainability & oth
Mayville Engineering Company (NYSE:MEC) (the "Company" or "MEC"), a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, today announced the appointment of Sean Leuba as Senior Vice President, Corporate Development and General Counsel effective January 25, 2023 reporting directly to President and Chief Executive Officer, Jag Reddy. Mr. Leuba brings to MEC more than two decades of public-company development, operations and legal expertise within the machinery and manufacturing industries. Throughout his career, Mr. Leuba has been integral in leading corporate development efforts, while utilizing his extensive legal experience. "We are
Cheniere Energy, Inc. ("Cheniere" or the "Company") (NYSE:LNG) announced today that its Board of Directors ("Board") has appointed Brian E. Edwards to serve as a member of the Board, effective October 3, 2022. Mr. Edwards is considered an independent director. Mr. Edwards has been appointed to the Audit and Compensation Committees. Mr. Edwards is a Senior Vice President of Caterpillar Inc. ("Caterpillar") (NYSE:CAT) with responsibility for the Caterpillar Remanufacturing Division. Mr. Edwards joined Caterpillar in 2010 as Vice President of Sales and Marketing at Caterpillar's wholly owned subsidiary, Progress Rail. Prior to joining Caterpillar, Mr. Edwards spent over 20 years in manufactur
EDISON, N.J., Dec. 14, 2021 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ:EOSE) ("Eos"), a leading provider of safe, scalable, efficient, and sustainable zinc-based energy storage systems, today announced that Randall ("Randy") B. Gonzales has been appointed Chief Financial Officer, to succeed Sagar Kurada who has announced his intention to resign, effective January 11, 2022. Eos CEO Joe Mastrangelo said, "Randy is a proven industrial CFO with a superior track record of delivering results and creating value. I'm excited to welcome Randy to Eos. He is a high-impact executive who brings a unique blend of capital allocation discipline, well-honed operating skills, and transformati