Irving, Texas – Caterpillar (NYSE:NYSE:), a global leader in construction and mining equipment with a market capitalization of $181.7 billion, announced today that Chief Human Resources Officer (CHRO) Cheryl Johnson will retire on April 30, marking the end of her tenure. Seven years with the company. according to InvestingPro According to the data, the company maintains an “outstanding” financial health score, reflecting its strong market position.
Cheryl Johnson’s career at Caterpillar has been noted for aligning the HR function with the company’s strategic direction, emphasizing talent development, and fostering a culture of continuous improvement. Chairman and CEO Jim Umpleby praised Johnson for her dedicated service and contributions to the company’s workforce strategies.
A search is currently underway for a new Chief Human Resources Officer as Caterpillar prepares for this leadership transition. Johnson’s prior experience includes a 20-year tenure at Textron (NYSE:), where she was part of the executive leadership team and oversaw numerous corporate functions.
In addition to her role at Caterpillar, Johnson serves as a member of the Board of Directors for Flowserve Corporation (NYSE:) and the Human Resource Policy Association, and is a member of the Executive Leadership Council. Her academic qualifications include a Master’s degree in Business Administration and a Bachelor’s degree in Operations Management from Northern Illinois University.
With 2023 sales and revenues of $67.1 billion, Caterpillar has established itself as a leading manufacturer in its industry, with a product portfolio that includes construction and mining equipment, diesel and engines, and industrial gas turbines. Trading at a price-to-earnings ratio of 17.4, the company has demonstrated a strong commitment to shareholders by maintaining its dividend for 55 consecutive years and implementing aggressive stock repurchase programs. InvestingPro The analysis indicates that the stock is currently fairly valued, with more than 10 additional exclusive information available to subscribers. The company has been instrumental in driving construction and infrastructure growth around the world for nearly a century and is actively involved in the transition towards a low-carbon future.
This announcement is based on a Caterpillar Inc. press release. The company continues to operate across various sectors, including the construction, resource, energy and transportation industries, and provides financing and related services through its financial products segment.
In other recent news, Caterpillar Financial Services issued $1.25 billion in medium-term notes, providing additional capital to support its operations and strategic initiatives. Meanwhile, Barclays (LON:) maintained its equal weight rating to Caterpillar, noting that it is a smaller but growing market for the company. Evercore ISI downgraded Caterpillar stock from “In Line” to “Underperform,” citing potential earnings risks and competitive pressures.
DA Davidson raised its price target on Caterpillar to $350 from $337, acknowledging the company’s mixed performance across sectors. Oppenheimer maintained Caterpillar’s Perform rating, citing a challenging outlook for the fourth quarter due to contrasting trends within its business segments.
Caterpillar reported a 4% year-over-year decline in third-quarter sales, totaling $16.1 billion, primarily due to weak performance in its construction and resource industries segments. Despite this, the company maintained a steady adjusted operating profit margin of 20% and adjusted earnings per share of $5.17.
The company also announced a multi-year capital investment to enhance its large reciprocating engine capacity, with the goal of increasing production capacity by more than 125% over 2023. Caterpillar’s backlog increased slightly to $28.7 billion, indicating good demand in some segments. These are all recent developments in the company’s operations.
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