Caterpillar (CAT) to Unveil Four Battery Electric Machines
Caterpillar Inc. CAT is ready to showcase four electric machine prototypes that will help customers achieve their sustainability goals. These products will be displayed at bauma 2022, (the world's leading construction machinery trade fair) to be held from Oct 24, 2022 to Oct 30, 2022 in Munich, Germany.
These machines including the 301.9 mini excavator, 320 medium excavator, 950 GC medium wheel loader and 906 compact wheel loader will help customers in their journey during the energy transition to a lower-carbon future. Of these, the 301.9 mini excavator and 906 compact wheel loader are expected to be the first commercially available models. The machines are powered by Caterpillar battery prototypes and include an onboard AC charger. CAT also plans to offer an off-board DC fast-charging option.
These batteries will also be available to power other industrial applications. Built on proven Caterpillar technology, the lithium-ion battery range features a modular design offering flexible configurations across multiple applications. The batteries are designed to be scalable per industry and customer needs. The same will also maximize sustainability throughout their lifecycle and also can be recycled and reused at the end of functioning life.
Owing to the growing awareness of the risks involved in climate change, organizations globally are working hard toward a reduced-carbon future. To capitalize on this trend, Caterpillar is focusing on bringing a wide variety of solutions for its customers including machines that run on renewable fuels or technology that increases fuel efficiency. These purpose-built solutions according to geography, jobsite and specific customer need will help users achieve their sustainability goals.
Caterpillar was named on the Dow Jones Sustainability Index for 22 years in a row. It targets to reduce absolute greenhouse gas emissions from its operations by 30% from 2018 to 2030. It aims to make 100% of its new products through 2030 to be more sustainable than the previous ones by offering an improved design for rebuild/remanufacturing, lower emissions, enhanced efficiency and reduced waste.
Price Performance
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Shares of Caterpillar have fallen 7.1% in the past year compared with the industry’s decline of 8.6%.
Zacks Rank & Stocks to Consider
Caterpillar currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks in the Industrial Products sector are Tenaris TS, CECO Environmental CECE and W.W. Grainger Inc. GWW. While TS flaunts a Zacks Rank #1 (Strong Buy), CECE and GWW carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Tenaris delivered a trailing four-quarter earnings surprise of 34%, on average. Earnings estimates have increased 8% for fiscal 2022 in the past 60 days. TS’ shares have risen 38% in the past year.
CECO Environmental delivered a trailing four-quarter earnings surprise of 29.1%, on average. Earnings estimates have increased 17% for fiscal 2022 in the past 60 days. The CECE stock has gained 39% in the past year.
Grainger’s earnings surprise in the last four quarters was 7.9%, on average. In the past 60 days, its earnings estimates have increased 4% for 2022. The GWW stock has gained 27% in the past year.
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