IRVING, Texas – Caterpillar Inch. (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 H. Johnson will retire on April 30, marking the end of her seven years of work in the company. According to InvestingPro data, the company maintains an “EXCELLENT” financial health rating, reflecting its strong market position.
Cheryl Johnson’s career at Caterpillar is known for aligning the HR function with the company’s strategic direction, emphasizing talent development and fostering a culture of continuous improvement. President and CEO Jim Umpleby praised Johnson for her dedicated service and contribution to the company’s workforce strategy.
The search for a new CHRO is currently underway as Caterpillar prepares for this leadership transition. Johnson’s previous experience includes a 20-year stint at Textron (NYSE: ), where she was part of the executive leadership team and oversaw various corporate functions.
In addition to her role at Caterpillar, Johnson is a board member for Flowserve Corporation (NYSE: ) and the HR 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 sales and revenues of $67.1 billion in 2023, Caterpillar has established itself as a leading manufacturer in its industry, with a product range that includes construction and mining equipment, diesel and engines, and industrial gas turbines. Trading at a P/E ratio of 17.4, the company has demonstrated strong shareholder commitment by maintaining dividend payments for 55 consecutive years and conducting aggressive share buyback programs. InvestingPro analysis shows that the stock is currently quite valued, with 10+ additional exclusive insights available to subscribers. The company has been instrumental in driving the construction and growth of infrastructure worldwide for nearly a century and is actively involved in the transition to a low-carbon future.
This announcement is based on a press release from Caterpillar Inc. The company continues to operate in various segments, including construction, resource and energy and transportation, and offers financing and related services through its financial products segment.
In other recent news, Caterpillar Financial Services Corporation issued $1.25 billion in medium-term notes, providing additional capital to support its operations and strategic initiatives. Meanwhile, Barclays (LON: ) maintained an Equalweight rating on Caterpillar, noting that the market for the company is smaller but growing. Evercore ISI downgraded Caterpillar shares from “Ok” 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 its outperform rating on Caterpillar, citing a challenging outlook for the fourth quarter due to contrasting trends within its business segments.
Caterpillar reported a 4% year-over-year sales decline in the third quarter to total $16.1 billion, primarily due to weaker performance in its construction and resource industries segments. Despite this, the company maintained a stable adjusted operating profit margin of 20% and adjusted earnings per share of $5.17.
The company also announced a multi-year capital investment to increase large piston engine capacity, aiming to increase production capacity by more than 125% compared to 2023. Caterpillar’s backlog rose slightly to $28.7 billion, indicating healthy demand in certain sectors. These are all recent events in the company’s operations.
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