CaterpillarCAT
About: Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Its reporting segments are: construction industries (40% sales/47% operating profit, or OP), resource industries (20% sales/19% OP), and energy & transportation (40% sales/34% OP). Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has global reach (46% US sales/54% ex-US). Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of 156 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.
Employees: 121,173
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
158% more first-time investments, than exits
New positions opened: 240 | Existing positions closed: 93
38% more funds holding in top 10
Funds holding in top 10: 58 [Q2] → 80 (+22) [Q3]
12% more capital invested
Capital invested by funds: $122B [Q2] → $137B (+$15B) [Q3]
4% more funds holding
Funds holding: 2,658 [Q2] → 2,772 (+114) [Q3]
0% more repeat investments, than reductions
Existing positions increased: 1,031 | Existing positions reduced: 1,029
2.07% less ownership
Funds ownership: 72.26% [Q2] → 70.19% (-2.07%) [Q3]
13% less call options, than puts
Call options by funds: $3.16B | Put options by funds: $3.65B
Research analyst outlook
7 Wall Street Analysts provided 1 year price targets over the past 3 months
7 analyst ratings
Truist Securities Jamie Cook 66% 1-year accuracy 57 / 86 met price target | 18%upside $455 | Buy Maintained | 16 Jan 2025 |
Citigroup Kyle Menges 58% 1-year accuracy 14 / 24 met price target | 9%upside $420 | Buy Maintained | 14 Jan 2025 |
Evercore ISI Group David Raso 67% 1-year accuracy 12 / 18 met price target | 5%downside $365 | In-Line Upgraded | 13 Jan 2025 |
JP Morgan Tami Zakaria 53% 1-year accuracy 16 / 30 met price target | 33%upside $515 | Overweight Maintained | 9 Dec 2024 |
Jefferies Stephen Volkmann 27% 1-year accuracy 3 / 11 met price target | 23%upside $475 | Buy Maintained | 6 Dec 2024 |
Financial journalist opinion
Based on 18 articles about CAT published over the past 30 days
