Bank of Nova Scotia reduced its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 15.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 341,679 shares of the industrial products company’s stock after selling 64,218 shares during the quarter. Bank of Nova Scotia owned 0.07% of Caterpillar worth $242,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Diamant Asset Management Inc. grew its stake in shares of Caterpillar by 68,427.2% in the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock worth $2,224,992,000 after acquiring an additional 3,136,020 shares during the period. Capital International Investors purchased a new stake in Caterpillar in the fourth quarter worth approximately $1,225,317,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Caterpillar by 573.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after purchasing an additional 1,281,087 shares during the last quarter. Bank of America Corp DE grew its position in Caterpillar by 16.0% in the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock worth $3,860,457,000 after purchasing an additional 928,974 shares during the period. Finally, Cynosure Group LLC raised its stake in Caterpillar by 8,359.6% during the 4th quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company’s stock valued at $294,314,000 after buying an additional 507,681 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.
Caterpillar Stock Performance NYSE CAT opened at $893.02 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a twelve month low of $405.46 and a twelve month high of $1,073.46. The business has a 50-day moving average price of $928.87 and a 200-day moving average price of $803.52. The firm has a market cap of $411.32 billion, a price-to-earnings ratio of 44.45, a price-to-earnings-growth ratio of 1.74 and a beta of 1.57.
Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.41 billion for the quarter, compared to analysts’ expectations of $16.53 billion. During the same period in the previous year, the firm earned $4.25 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. As a group, equities research analysts predict that Caterpillar Inc. will post 24.87 EPS for the current fiscal year.
Caterpillar Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a dividend of $1.63 per share. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is currently 32.45%.
Insider Activity at Caterpillar In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the transaction, the chief financial officer owned 52,935 shares of the company’s stock, valued at $48,631,913.85. This represents a 22.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason Kaiser sold 5,642 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $883.03, for a total value of $4,982,055.26. Following the transaction, the insider owned 9,594 shares of the company’s stock, valued at approximately $8,471,789.82. The trade was a 37.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,773 shares of company stock valued at $87,642,635 in the last ninety days. Corporate insiders own 0.33% of the company’s stock.
Analyst Ratings Changes CAT has been the topic of several research analyst reports. HSBC increased their price target on Caterpillar from $850.00 to $1,100.00 in a report on Tuesday, May 5th. Wall Street Zen upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Argus increased their target price on Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Daiwa Securities Group raised their target price on Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Bank of America upped their price target on shares of Caterpillar from $930.00 to $989.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Fifteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $980.57.
Check Out Our Latest Stock Analysis on CAT
About Caterpillar (Free Report)
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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Caterpillar (CAT +0.59%) is known for its dependable dividend, having raised its payout for more than 30 years. The renowned income investment recently approved another substantial increase. So why is Caterpillar's dividend yield the lowest in its history?
Today's Change
(
0.59
%) $
5.23
Current Price
$
894.54
The construction and heavy machinery manufacturer has seen its stock surge faster than its dividend growth, resulting in a lower yield. Shares of Caterpillar have skyrocketed more than 55% so far this year, and over 110% in the past 12 months as of this writing.
As AI infrastructure build-outs accelerate, so does the demand for construction equipment. The increase in Caterpillar's share price has now left potential investors with a conundrum. The stock is trading at a hefty premium, particularly compared to its historical averages. The 0.75% yield means new investors aren't necessarily buying for the high income as much as for the potential of continued growth.
Image source: Getty Images.
Caterpillar currently pays a quarterly dividend of $1.51 per share. The stock's forward price-to-earnings (P/E) ratio is in the mid-30s, while the trailing P/E sits above 40. New investors will need to be patient over a longer period of time to justify paying a higher price. With that said, Caterpillar is in excellent shape to keep the dividend raises coming for the foreseeable future.
Catie Hogan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Caterpillar. The Motley Fool has a disclosure policy.
Alamar Capital Management LLC purchased a new position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the industrial products company’s stock, valued at approximately $708,000.
A number of other institutional investors also recently added to or reduced their stakes in CAT. Diamant Asset Management Inc. grew its position in Caterpillar by 68,427.2% during the first quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company’s stock worth $2,224,992,000 after buying an additional 3,136,020 shares during the period. Capital International Investors purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $1,225,317,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Caterpillar by 573.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock worth $861,947,000 after acquiring an additional 1,281,087 shares during the period. Bank of America Corp DE increased its stake in Caterpillar by 16.0% in the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock valued at $3,860,457,000 after purchasing an additional 928,974 shares in the last quarter. Finally, Cynosure Group LLC increased its stake in Caterpillar by 8,359.6% in the 4th quarter. Cynosure Group LLC now owns 513,754 shares of the industrial products company’s stock valued at $294,314,000 after purchasing an additional 507,681 shares in the last quarter. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Insider Transactions at Caterpillar In other Caterpillar news, CFO Andrew R. J. Bonfield sold 15,674 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total value of $14,399,860.54. Following the completion of the transaction, the chief financial officer directly owned 52,935 shares in the company, valued at approximately $48,631,913.85. The trade was a 22.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lange Bob De sold 24,222 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the transaction, the insider directly owned 86,029 shares of the company’s stock, valued at approximately $79,397,884.68. This represents a 21.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,773 shares of company stock worth $87,642,635 in the last three months. 0.33% of the stock is currently owned by company insiders.
Caterpillar News Roundup Here are the key news stories impacting Caterpillar this week:
Positive Sentiment: Analysts have been raising their outlook on Caterpillar, with one report saying the stock’s fair value estimate was lifted to $970.37 as investors continue to focus on strong demand in construction, energy, data centers, and infrastructure. Caterpillar Stock Fair Value Edges Higher After Analysts Lift Targets Positive Sentiment: Caterpillar was highlighted in several pieces as a stock with AI exposure and reliable dividend growth, which can attract investors looking for both growth and defensive characteristics. These Stocks Offer AI Exposure and Dividend Payouts Positive Sentiment: The company is also being discussed as a “solid defensive play” thanks to its long dividend-increase streak and stable yield, which may help support the stock during uncertain markets. A Boring Dividend Growth Strategy Becomes a Solid Defensive Play (CAT) Positive Sentiment: Caterpillar also announced it will release second-quarter 2026 results on August 4, keeping attention on upcoming earnings that could provide another catalyst for the shares. Caterpillar Inc. to Announce Second-Quarter 2026 Financial Results on August 4 Neutral Sentiment: A local article noted Caterpillar is renovating a recently purchased Texas property, which appears to be a routine real-estate and facilities update rather than a major stock-moving event. Caterpillar embarks on renovations after purchasing property in Texas Analyst Upgrades and Downgrades A number of analysts have commented on CAT shares. Barclays boosted their target price on Caterpillar from $700.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Oppenheimer lifted their price target on Caterpillar from $980.00 to $1,105.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Argus boosted their price objective on shares of Caterpillar from $820.00 to $990.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Evercore reissued an “outperform” rating and issued a $1,103.00 price objective on shares of Caterpillar in a research note on Monday, May 11th. Finally, Rothschild & Co Redburn lifted their target price on shares of Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Fifteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $980.57.
Read Our Latest Report on CAT
Caterpillar Stock Down 0.0% Shares of NYSE:CAT opened at $889.79 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $409.83 billion, a P/E ratio of 44.29, a P/E/G ratio of 1.74 and a beta of 1.57. Caterpillar Inc. has a 52-week low of $405.46 and a 52-week high of $1,073.46. The stock’s fifty day simple moving average is $929.39 and its 200-day simple moving average is $801.45.
Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. The firm had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.25 EPS. As a group, equities research analysts forecast that Caterpillar Inc. will post 24.87 earnings per share for the current fiscal year.
Caterpillar Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is 32.45%.
Caterpillar Profile (Free Report)
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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Arvest Bank Trust Division grew its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 254.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,897 shares of the industrial products company’s stock after buying an additional 4,951 shares during the quarter. Arvest Bank Trust Division’s holdings in Caterpillar were worth $4,886,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lam Group Inc. purchased a new position in shares of Caterpillar in the first quarter worth $26,000. Torren Management LLC purchased a new stake in shares of Caterpillar during the fourth quarter valued at $27,000. Frazier Financial Advisors LLC increased its holdings in Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after buying an additional 33 shares in the last quarter. IFS Advisors LLC purchased a new position in Caterpillar in the 4th quarter worth about $31,000. Finally, Rialto Wealth Management LLC lifted its stake in Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 18 shares during the period. Institutional investors own 70.98% of the company’s stock.
Caterpillar Price Performance NYSE CAT opened at $889.40 on Wednesday. The company has a market capitalization of $409.65 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 1.69 and a beta of 1.57. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.81 and a current ratio of 1.35. The business’s fifty day moving average is $929.62 and its 200 day moving average is $799.21. Caterpillar Inc. has a fifty-two week low of $405.46 and a fifty-two week high of $1,073.46.
Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping analysts’ consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. During the same quarter in the prior year, the business posted $4.25 earnings per share. The business’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts predict that Caterpillar Inc. will post 24.87 earnings per share for the current year.
Caterpillar Increases Dividend The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $6.52 annualized dividend and a yield of 0.7%. This is an increase from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s payout ratio is currently 32.45%.
Analyst Ratings Changes A number of research analysts recently weighed in on CAT shares. DA Davidson increased their price objective on shares of Caterpillar from $650.00 to $845.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. HSBC lifted their target price on shares of Caterpillar from $850.00 to $1,100.00 in a research report on Tuesday, May 5th. Morgan Stanley set a $915.00 price target on Caterpillar and gave the company an “equal weight” rating in a report on Friday, May 1st. Evercore reaffirmed an “outperform” rating and issued a $1,103.00 price objective on shares of Caterpillar in a report on Monday, May 11th. Finally, Truist Financial upped their price objective on Caterpillar from $1,043.00 to $1,218.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Fifteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average target price of $980.57.
Check Out Our Latest Report on Caterpillar
Insider Buying and Selling In other Caterpillar news, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider directly owned 46,041 shares of the company’s stock, valued at $42,210,388.80. This trade represents a 26.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason Kaiser sold 5,642 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the completion of the transaction, the insider directly owned 9,594 shares in the company, valued at $8,471,789.82. This trade represents a 37.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 95,773 shares of company stock worth $87,642,635 in the last three months. Corporate insiders own 0.33% of the company’s stock.
More Caterpillar News Here are the key news stories impacting Caterpillar this week:
Positive Sentiment: Wall Street sentiment remains constructive, with Caterpillar’s average brokerage recommendation still equivalent to a Buy, supporting investor confidence in the stock. Is It Worth Investing in Caterpillar (CAT) Based on Wall Street’s Bullish Views? Positive Sentiment: Analysts lifted Caterpillar’s modeled fair value estimate from $913.29 to $970.37, suggesting higher expectations for the stock’s intrinsic value. Caterpillar (CAT) Stock Fair Value Edges Higher After Analysts Lift Targets Positive Sentiment: Market coverage noted Caterpillar was among the Dow’s stronger performers, reflecting broader momentum in the shares during Tuesday’s session. Dow Rises 500 Points. It’s Not a Broad Rally. Neutral Sentiment: Caterpillar announced it will release second-quarter 2026 financial results on August 4, which puts investors on watch for a potentially important catalyst but does not provide new operating results yet. Caterpillar Inc. to Announce Second-Quarter 2026 Financial Results on August 4 Neutral Sentiment: Zacks highlighted Caterpillar as one of several dividend-paying industrial names benefiting from AI-related infrastructure spending, a supportive but indirect theme for the stock. These Stocks Offer AI Exposure and Dividend Payouts Neutral Sentiment: A local article said Caterpillar began renovations after buying property in Texas, which is operationally interesting but unlikely to move the stock on its own. Caterpillar embarks on renovations after purchasing property in Texas Caterpillar Company Profile (Free Report)
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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Assetmark Inc. ve 1. čtvrtletí snížila svůj podíl v Caterpillar o 30,1 % a prodala 8 820 akcií. Po transakci držela 20 514 akcií v hodnotě 14,533 milionu USD.
Assetmark Inc. reduced its stake in Caterpillar Inc. (NYSE:CAT – Free Report) by 30.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,514 shares of the industrial products company’s stock after selling 8,820 shares during the period. Assetmark Inc.’s holdings in Caterpillar were worth $14,533,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Cornerstone Advisory LLC boosted its position in shares of Caterpillar by 0.7% during the first quarter. Cornerstone Advisory LLC now owns 1,818 shares of the industrial products company’s stock worth $1,288,000 after buying an additional 12 shares during the period. Advisory Resource Group increased its stake in Caterpillar by 0.8% during the fourth quarter. Advisory Resource Group now owns 1,632 shares of the industrial products company’s stock worth $935,000 after purchasing an additional 13 shares during the period. Sunbeam Capital Management LLC lifted its position in shares of Caterpillar by 1.1% during the first quarter. Sunbeam Capital Management LLC now owns 1,164 shares of the industrial products company’s stock worth $825,000 after purchasing an additional 13 shares in the last quarter. Brandywine Oak Private Wealth LLC boosted its stake in shares of Caterpillar by 2.6% in the first quarter. Brandywine Oak Private Wealth LLC now owns 506 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 13 shares during the period. Finally, Sylvest Advisors LLC increased its stake in Caterpillar by 3.6% during the 1st quarter. Sylvest Advisors LLC now owns 377 shares of the industrial products company’s stock worth $267,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.
Caterpillar Stock Up 0.1% Caterpillar stock opened at $881.26 on Monday. The stock has a market cap of $405.90 billion, a PE ratio of 43.87, a P/E/G ratio of 1.72 and a beta of 1.57. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.35 and a quick ratio of 0.81. The stock’s fifty day moving average is $931.29 and its two-hundred day moving average is $794.97. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46.
Caterpillar (NYSE:CAT – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. During the same period in the prior year, the firm posted $4.25 EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, sell-side analysts expect that Caterpillar Inc. will post 24.87 EPS for the current fiscal year.
Caterpillar Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend is Monday, July 20th. Caterpillar’s dividend payout ratio is currently 30.06%.
Insider Buying and Selling In other Caterpillar news, insider Denise C. Johnson sold 12,605 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the sale, the insider owned 49,825 shares of the company’s stock, valued at approximately $45,236,615.75. This trade represents a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lange Bob De sold 24,222 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $922.92, for a total transaction of $22,354,968.24. Following the sale, the insider owned 86,029 shares of the company’s stock, valued at $79,397,884.68. This represents a 21.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 95,773 shares of company stock valued at $87,642,635 over the last three months. 0.33% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades Several research firms have commented on CAT. Sanford C. Bernstein boosted their price target on shares of Caterpillar from $769.00 to $879.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Oppenheimer boosted their target price on Caterpillar from $980.00 to $1,105.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. UBS Group reiterated a “neutral” rating and issued a $900.00 price objective on shares of Caterpillar in a research note on Tuesday, June 2nd. Jefferies Financial Group boosted their price objective on Caterpillar from $900.00 to $1,045.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Finally, HSBC upped their target price on shares of Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. Fifteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $980.57.
Read Our Latest Research Report on Caterpillar
Key Stories Impacting Caterpillar Here are the key news stories impacting Caterpillar this week:
Positive Sentiment: Multiple analyst updates turned incrementally more optimistic on Caterpillar’s earnings outlook, with Erste Group Bank and Zacks Research lifting FY2026, FY2027, FY2028 and several quarterly EPS estimates. Higher profit expectations can support the stock by reinforcing the view that CAT’s long-term demand and pricing power remain solid. Positive Sentiment: Several commentary pieces highlighted Caterpillar as a leading industrial and equipment name versus peers like Volvo, citing stronger earnings momentum, rising estimates, and long-term growth tied to infrastructure, electrification, automation, and AI data-center buildout demand. Neutral Sentiment: Pre-earnings coverage noted Wall Street is expecting Caterpillar’s upcoming Q2 2026 report to show another double-digit profit increase, which keeps investor attention focused on whether results can justify the stock’s premium valuation. Neutral Sentiment: Several articles framed Caterpillar as a high-quality company with a strong brand and global dealer network, but also warned that the valuation looks rich. That limits near-term upside unless earnings growth continues to outpace expectations. Negative Sentiment: Caterpillar was also mentioned in broader market weakness and “AI selloff” coverage, and Zacks Research downgraded the stock from strong-buy to hold. That suggests some investors are becoming more cautious after the recent run-up. Caterpillar Profile (Free Report)
Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.
In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.
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Caterpillar v posledním obchodním dni klesl o 2,04 % na 914,30 USD, zatímco S&P 500 vzrostl o 0,38 %. Před zveřejněním výsledků analytici čekají EPS 6,25 USD a tržby 19,31 miliardy USD.
In the latest close session, Caterpillar (CAT - Free Report) was down 2.04% at $914.30. This change lagged the S&P 500's 0.38% gain on the day. At the same time, the Dow added 0.29%, and the tech-heavy Nasdaq gained 0.62%.
The construction equipment company's stock has dropped by 1.28% in the past month, falling short of the Industrial Products sector's gain of 0.99% and the S&P 500's gain of 1.61%.
The upcoming earnings release of Caterpillar will be of great interest to investors. In that report, analysts expect Caterpillar to post earnings of $6.25 per share. This would mark year-over-year growth of 32.42%. Simultaneously, our latest consensus estimate expects the revenue to be $19.31 billion, showing a 16.56% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $24.85 per share and a revenue of $77.08 billion, representing changes of +30.38% and +14.04%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Caterpillar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.91% higher within the past month. Caterpillar is currently a Zacks Rank #3 (Hold).
In terms of valuation, Caterpillar is currently trading at a Forward P/E ratio of 37.57. This represents a premium compared to its industry average Forward P/E of 15.41.
Also, we should mention that CAT has a PEG ratio of 1.83. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Construction and Mining industry had an average PEG ratio of 1.62 as trading concluded yesterday.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 185, placing it within the bottom 25% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Caterpillar oznámil, že tržby divize stavební techniky v 1. čtvrtletí 2026 vzrostly meziročně o 38 % na 7,16 miliardy USD. Do roku 2030 chce prodeje koncovým zákazníkům zvýšit na 1,25násobek úrovně z roku 2024.
Key Takeaways Construction Industries delivered $7.16B in Q1 2026 revenues, up 38% year over year.Caterpillar targets 1.25x Construction Industries sales to end users by 2030 vs. 2024. CAT is investing in autonomous equipment, AI-enabled solutions and digital services. Caterpillar Inc.’s (CAT - Free Report) Construction Industries segment generated around $25.1 billion in 2025 sales, accounting for roughly 37% of its total revenues. Its momentum accelerated in the first quarter of 2026, when revenues climbed 38% year over year to $7.16 billion, driven by higher sales volumes and favorable pricing. The segment contributed roughly 41% to the company's total revenues during the quarter.
The company views the segment as its backbone, reflecting more than a century of expertise in construction equipment. While machinery sales continue to drive growth, Caterpillar is increasingly expanding the segment's value proposition through rental offerings, digital capabilities and advanced technology solutions. This strategy aims to generate stronger customer engagement and create recurring revenue opportunities beyond the initial equipment sale.
The segment supports customers using machinery in infrastructure and building construction activities. The segment’s revenues have witnessed a CAGR of 8.2% over 2020-2025 and it serves more than 700,000 customers across more than 190 countries.
Looking ahead, Caterpillar has set a goal of increasing Construction Industries' sales to end users by 1.25 times by 2030 compared with 2024 levels. The company expects more than a 25% increase in global construction spend over 2024-2034.
Caterpillar continues to see attractive opportunities in both mature markets such as North America, Europe, Japan, Australia and New Zealand, as well as faster-growing regions across Asia (excluding Japan), Latin America, the Middle East, Africa and Eurasia. This balanced geographic footprint allows the company to capitalize on replacement demand in developed markets while benefiting from rising infrastructure investment and urbanization in emerging economies.
Caterpillar’s competitive advantages extend well beyond its product portfolio. Its extensive dealer network, connected equipment base and expanding digital ecosystem enable customers to improve machine utilization, lower operating costs and enhance productivity. The company is investing in autonomous equipment, AI-enabled jobsite solutions, machine automation and operator assistance technologies that improve efficiency and safety. These capabilities should become increasingly valuable as contractors face skilled labor shortages, rising project complexity and pressure to improve productivity.
Overall, the Construction Industries segment appears well-positioned for sustained growth, supported by global infrastructure spending, increasing equipment replacement demand, expanding digital services, autonomous technologies and a growing installed machine base. Although construction equipment demand remains cyclical and can be affected by interest rates and economic slowdowns, Caterpillar's diversified end markets, extensive dealer network, recurring services revenues and technology investments should help the segment deliver resilient performance over the long term.
Its peer, Komatsu Ltd. (KMTUY - Free Report) , is pursuing a similar strategy centered on automation, smart construction and electrification. Komatsu continues to expand its Smart Construction platform, autonomous equipment portfolio and digital services while benefiting from global infrastructure spending and mining investments. Like Caterpillar, the company expects software-enabled solutions and connected equipment to become increasingly important revenue contributors beyond traditional machinery sales.
Another close competitor is Deere & Company (DE - Free Report) , whose Construction & Forestry segment is emphasizing precision construction technologies, machine guidance systems and autonomous capabilities. Deere is investing heavily in digital workflows that improve jobsite efficiency, while also expanding aftermarket and technology-driven recurring revenues. Similar to Caterpillar, Deere views intelligent equipment, connected fleet and software integration as key long-term growth opportunities.
CAT’s Price Performance, Valuation & EstimatesCaterpillar shares have gained 49.6% in the past six months, outperforming the manufacturing - construction and mining industry's 42.2% growth.
Image Source: Zacks Investment Research
CAT is currently trading at a forward 12-month P/E of 34.03X, a premium compared with the industry’s 31.91X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 points to year-over-year earnings growth of 29.6%, while the 2027 estimate implies a growth of around 25%.
Image Source: Zacks Investment Research
Earnings estimates for both years have moved up over the past 60 days.
Image Source: Zacks Investment Research
Caterpillar stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Caterpillar uzavřel poslední obchodní den na 938,39 USD, což bylo o 1,02 % méně než předchozí den, zatímco S&P 500 vzrostl o 0,81 %. Akcie ale za poslední měsíc přidaly 10,74 %.
Caterpillar (CAT - Free Report) closed the most recent trading day at $938.39, moving -1.02% from the previous trading session. This move lagged the S&P 500's daily gain of 0.81%. Meanwhile, the Dow gained 0.27%, and the Nasdaq, a tech-heavy index, added 1.3%.
Shares of the construction equipment company witnessed a gain of 10.74% over the previous month, beating the performance of the Industrial Products sector with its gain of 0.86%, and the S&P 500's gain of 1.13%.
The upcoming earnings release of Caterpillar will be of great interest to investors. The company's earnings per share (EPS) are projected to be $6.21, reflecting a 31.57% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $19.08 billion, up 15.17% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $24.71 per share and revenue of $76.56 billion, which would represent changes of +29.64% and +13.28%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Caterpillar. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.06% rise in the Zacks Consensus EPS estimate. Caterpillar presently features a Zacks Rank of #2 (Buy).
Investors should also note Caterpillar's current valuation metrics, including its Forward P/E ratio of 38.37. Its industry sports an average Forward P/E of 15.52, so one might conclude that Caterpillar is trading at a premium comparatively.
We can also see that CAT currently has a PEG ratio of 1.87. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Manufacturing - Construction and Mining industry was having an average PEG ratio of 1.63.
The Manufacturing - Construction and Mining industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 72, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Caterpillar kupuje Skycatch a rozšiřuje své technologie pro těžbu o near-real-time prostorová data a AI. Cílem je lepší plánování, bezpečnost a produktivita v dolech.
Near-real-time spatial data and AI capabilities strengthen mine planning and execution
, /PRNewswire/ -- Caterpillar Inc. (NYSE: CAT) has acquired Skycatch, Inc. (Skycatch), a leading provider of spatial data capture, processing and analysis solutions for the mining industry, further enhancing its capabilities following the recent acquisition of RPMGlobal (RPM). The acquisition expands Caterpillar's portfolio of data-driven mining technology solutions that help customers optimize material movement.
Caterpillar is expanding its portfolio of data-driven mining technology with the acquisition of Skycatch. "Acquiring Skycatch aligns with our strategy to solve our customers' toughest challenges," said Denise Johnson, group president, Caterpillar Resource Industries. "By integrating near-real-time, high-resolution spatial data into both RPM and MineStar solutions, we can help customers improve mine site performance by enhancing safety, productivity and predictability across their operations using both staffed and autonomous fleets."
Skycatch's technology captures high-frequency, high-precision, large-scale spatial data and pairs it with a suite of AI capabilities that identify, measure and interact with the data to deliver improved operational performance. This gives mining customers a more up-to-date view of their operations, improving the speed, accuracy and precision of decision-making.
"Skycatch's ability to process large volumes of spatial data at dramatically improved speeds opens up a fundamentally different way of operating," said Richard Mathews, CEO of RPMGlobal. "With a near real-time spatial view of the operation, miners can adjust plans as conditions change, improve alignment between planning and execution, and deliver more predictable outcomes."
By generating a near-real-time digital twin of the mining site and integrating it directly into existing software solutions, customers can incorporate accurate, current data into their planning and execution workflows. The result is improved decision-making, reduced delays and greater confidence in daily operations.
"We're incredibly proud of what Skycatch has built over the past decade and excited for this next chapter with Caterpillar," said Christian Sanz, Skycatch Founder & CEO. "This next step strengthens our ability to support our customers while increasing the value we can deliver."
About Caterpillar
For more than a century, Caterpillar has built a better, more sustainable world. With 2025 sales and revenues of $67.6 billion, Caterpillar Inc. is shaping the future as the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Backed by one of the largest independent global dealer networks and financing services through Cat Financial, the company's primary business segments: Power & Energy, Construction Industries and Resource Industries are solving customers' toughest challenges through commercial excellence and advanced technology, driven by a highly skilled, dedicated global team. Learn more at www.caterpillar.com.
About RPMGlobal
RPMGlobal [RPM®] is a global leader in the provision and development of mining software solutions to the mining industry. RPM has been advancing the global mining industry through the provision of innovative software solutions and deep domain expertise for almost 50 years. The company's innovative technology solutions support mining clients to extract more value at every stage of the mining lifecycle. In partnership with the industry, RPM has delivered safer, cleaner and more efficient operations in over 125 countries. Learn more at www.rpmglobal.com.
About Skycatch
Skycatch is a provider of spatial data capture, processing and analytics solutions for mining and industrial operations. The company's technology enables the rapid generation of high-precision 3D data and insights, supporting more accurate, timely and data-driven decision-making across site operations. Skycatch's solutions are used by global customers to improve visibility, consistency and efficiency in complex operating environments. Learn more at www.skycatch.com.
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Michael Burry published an update on his short positions. Astrid Stawiarz/Getty Images Michael Burry has placed fresh bets against Tesla, Caterpillar, Nvidia, Applied Materials, and an index of microchip stocks.
The investor of "The Big Short" fame, best known for predicting and profiting from the collapse of the mid-2000s housing bubble, revealed his latest shorts in a Substack post on Tuesday afternoon.
Burry said he refreshed his wager against the iShares Semiconductor ETF (SOXX), purchasing bearish put options expiring in March 2027 instead of January 2027, with strike prices in the low-to-mid $400s rather than the low-to-mid $300s.
If the ETF falls below that price level, Burry's options will be "in the money," meaning he can profit by either selling the puts or exercising them to sell shares of the index at a premium to the market price.
SOXX — which includes Micron, AMD, Nvidia, Broadcom, Intel, and Applied Materials — has roughly quadrupled from its low last April, surging from around $160 to $640. It has doubled in value these past six months as investors have bet the AI boom will keep fueling insatiable demand for microchips.
Burry published a chart showing the index that SOXX tracks, the Philadelphia Semiconductor Index, is the most extended it's been relative to its 200-day moving average since the dot-com bubble.
"The SOXX itself is a pure form of overvaluation in an index, a form that is rarely seen and never so easily recognized as such," he wrote.
Burry said that he maintained his QQQ puts — wagers against the tech-heavy Nasdaq 100 — and shorted Tesla, Caterpillar, Nvidia, and Applied Materials.
None of the companies Burry said he is shorting immediately responded to requests for comment from Business Insider.
Tesla shares have rallied 22% from their April low to around $420. Burry, who's previously shorted Elon Musk's automaker, said he was "happy it jumped back to this level."
Burry said he's never shorted Caterpillar before, and owning shares of the maker of construction and mining equipment has "always done great" for him in the past.
"I am a bit shocked I am short CAT but this is just not anywhere near supported by the actual business," he wrote in a comment on his Substack.
Caterpillar stock jumped by 86% in the first half of this year, and 167% over the past 12 months, partly because the company is seen as a major beneficiary of the AI infrastructure buildout.
Burry poured cold water on Tuesday's rebound in chip stocks, writing in another comment that big spending announcements by Samsung and SK Hynix would catapult the "already parabolic" semiconductor equipment stocks even higher, and his "friends in that space are just shaking their heads and laughing."
Michael Burry answers subscribers' questions on Substack. Substack He said that thanks to his recent bets, he's increasingly positioned against the market. "I keep outright shorts small, but this has grown now to a substantial size," he wrote.
Burry pivoted from running a hedge fund to writing on Substack about his personal investments late last year. He's warned there's a speculative bubble around AI, and Big Tech companies are overinvesting in microchips from Nvidia and its peers that will quickly become outdated.
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Theron Mohamed You're currently following this author! Want to unfollow? Unsubscribe via the link in your email.
Theron Mohamed is a London-based correspondent on the Trending team at Business Insider. His coverage spans finance, investing, wealth, markets, and the economy.Theron joined BI in 2019 as a reporter at Markets Insider and rose to the rank of correspondent before moving to the Trending team in 2024. He previously covered tech, media, and telecom stocks for Investors Chronicle magazine and had a brief stint on the Financial Times' Data team. He interned at the Wall Street Journal in New York where he primarily wrote for Heard on the Street.Theron has freelanced for The Independent, The Telegraph, WIRED, and several smaller publications. He holds an undergraduate degree in geography from the London School of Economics, and a master's degree in journalism from Columbia University.Theron often covers Warren Buffett, Michael Burry, Jeremy Grantham and other top-flight investors. He also writes about the world's wealthiest people and shares financial advice from all manner of rich and successful people.Email Theron at [email protected] and follow him on X @theron_mohamed.Expertise
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Michael Burry oznámil první sázku na pokles Caterpillaru, protože podle něj je titul po AI rally výrazně nadhodnocený. Akcie letos vzrostly o 86 % a Burry je shortoval na úrovni 1 060,98 USD.
Michael Burry said Tuesday he has placed a bearish wager against Caterpillar, believing the construction-equipment maker has become one of the market's most overvalued beneficiaries of the artificial intelligence investment boom.
The famed investor said he shorted Caterpillar shares at $1,060.98, alongside new bearish positions in Nvidia, Applied Materials, Tesla and the iShares Semiconductor ETF (SOXX), as he prepared for what he believes is an increasingly overextended rally in AI-linked stocks.
"Caterpillar jumped out at me," Burry wrote in a Tuesday SubStack post. "I have never shorted Caterpillar. It has always done great for me on the long side in the past."
Caterpillar shares just capped off the first half of 2026 with an 86% gain, making the construction equipment giant one of the best-performing stocks in the S&P 500 this year as investors increasingly embraced it as a proxy for the global AI infrastructure buildout.
Caterpillar year to date
Burry said Caterpillar's stock valuation has reached levels that caught his attention. He shared a chart showing Caterpillar's price-to-sales ratio climbing to the highest level in at least three decades at the same time as the stock surged to record highs.
The investor, who famously predicted and profited from the subprime mortgage crisis in 2008, also reiterated his broader concerns about semiconductor valuations. He said the Philadelphia Semiconductor Index is trading about 65% above its 200-day moving average, a level he said was only reached previously during the dot-com bubble in 2000.
"The proximate cause of today's rally is big spending announced out of Korea. Well, I see that as the beginning of the end," Burry said. "It is only a matter of time now."
Caterpillar v 1. čtvrtletí 2026 snížil upravenou provozní marži na 18 % kvůli 26% růstu nákladů na prodej pod tlakem cel. Na rok 2026 čeká celní náklady 2,2–2,4 mld. USD.
Key Takeaways CAT Q1 2026 adjusted operating margin falls to 18% as cost of sales jumps 26% on tariff pressures.CAT expects $2.2-$2.4B tariff costs in 2026, keeping margins near the low end of its target range.CAT 2026 revenue estimate of ~$76.5B implies margins near the low end of 18-22%, slightly above 2025. Caterpillar Inc. (CAT - Free Report) reported a 30-basis-point year-over-year decline in its adjusted operating margin to 18% in the first quarter of 2026. This was mainly due to 26% year-over-year increase in the cost of sales, reflecting unfavorable manufacturing costs, including the impact of higher tariffs.
Tariffs introduced since early 2025 amounted to approximately $600 million in the first quarter of 2026. This was, however, below the company’s earlier estimate of $800 million. The lower figure was mainly due to a one-time adjustment in the calculation of 2025 tariff expenses.
Caterpillar had witnessed margin pressures in 2025 as well. Adjusted operating margin contracted 350 basis points year over year to 17.2% in 2025. The trend deteriorated progressively throughout the year, with margins declining from 18.3% in the first quarter to 17.6% in the second, 17.5% in the third, and 15.6% in the fourth quarter.
A key factor behind the margin compression was a significant increase in costs owing to tariffs. Cost of sales rose 11% year over year to $44.7 billion in 2025. While costs were down 7% in the first quarter, they climbed in each subsequent quarter, with the steepest jump of 29% occurring in the fourth quarter.
Total tariff impacts for 2025 reached about $1.8 billion and are expected to persist in 2026 as well. Management expects full-year 2026 tariff costs to be $2.2-$2.4 billion.
Even though Caterpillar expects low double-digit sales and revenue growth year over year in 2026, adjusted operating margin is expected near the bottom of its targeted range, factoring in the continued tariff pressures. The company, however, indicates margins would be higher than previous expectations.
Caterpillar maintains its adjusted operating margin outlook of 15–19% at revenue levels of around $60 billion. If revenues reach $72 billion, the operating margin range is 18–22%, while revenues of $100 billion could support margins in the range of 21–25%. This is shown in the chart below.
Image Source: Caterpillar Inc.
The Zacks Consensus Estimate for 2026 revenues is currently at around $76.5 billion. This suggests the adjusted operating margin will come in near the low end of 18-22%, a slight improvement from 17.2% reported in 2025.
Among peers, Terex Corporation (TEX - Free Report) reported a 30-basis-point year-over-year contraction in operating margin to 8.7% in the first quarter of 2026. Cost of goods sold surged 55.6% year over year. In 2025, Terex reported a 100-basis-point decline in operating margin to 10.4% in 2025. This was primarily due to lower volumes across both segments and unfavorable manufacturing variances stemming from proactive production cuts and tariff impacts. This was partially offset by cost-efficiency initiatives and contributions from its ESG acquisition.
Komatsu Ltd. (KMTUY - Free Report) reported a 230-basis point contraction in operating margin to 13.7% in fiscal 2025 (ended March 31, 2025) due to the impact of additional U.S tariffs. Komatsu expects to suffer annual negative impacts of 37.8 billion yen ($0.24 billion) from increased costs linked to U.S. tariffs in fiscal 2026. Komatsu’s projection for the operating margin for fiscal 2026 is 12.3%, a contraction of 140 basis points.
CAT’s Price Performance, Valuation & EstimatesCAT shares have gained 176.8% over the past year compared with the industry’s 138.2% growth.
Image Source: Zacks Investment Research
Caterpillar is currently trading at a forward 12-month price/earnings (P/E) ratio of 38.37X compared with the industry average of 33.92X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for CAT’s 2026 earnings indicates year-over-year growth of 29.3%. The earnings estimate for 2027 indicates 24.3% growth.
Image Source: Zacks Investment Research
Earnings estimates for Caterpillar for both 2026 and 2027 have moved up over the past 60 days, as shown in the chart below.
Image Source: Zacks Investment Research
Caterpillar stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar ve 1. čtvrtletí překonal očekávání: EPS byl 5,54 USD při tržbách 17,41 miliardy USD. Tahounem byl segment Power Generation, který vzrostl o 41 % na 2,82 miliardy USD.
Caterpillar (NYSE: CAT | CAT Price Prediction) has been one of the more surprising mega-cap winners of 2026, riding a record backlog, AI-driven power generation demand, and aggressive capital returns to fresh highs. With the stock now changing hands above $1,038, the question is whether the next leg requires fresh fundamental fuel or a pause.
Our 24/7 Wall St. price target for Caterpillar is $1,061.82, implying modest 2.28% upside over the next 12 months. We rate the stock a hold with high confidence (90%). The fundamentals remain excellent, but the valuation has caught up.
24/7 Wall St. Price Target Summary Metric Value Current Price $1,038.19 24/7 Wall St. Price Target $1,061.82 Upside 2.28% Recommendation HOLD Confidence Level 90% A Power Generation Story Built on a Construction Base Caterpillar shares are up 74.34% year to date and 169.49% over the past year, with a 13.02% gain in the past month alone. CAT now trades just 7% off its 52-week high of $1,023.29, a remarkable run from last summer’s low of $369.05.
The Q1 2026 earnings report on April 30 sealed the rally. EPS came in at $5.54 against a $4.64 consensus, while revenue of $17.41 billion grew 22.22% year over year. Construction Industries surged 38%, and Power Generation jumped 41% to $2.82 billion on data center demand for large reciprocating engines and turbines. CEO Joe Creed pointed to “a record backlog” as the foundation for continued momentum.
Why Bulls See a Breakout Above $1,113 The bull case rests on the AI infrastructure cycle. Power Generation has now grown 28%, 31%, 44%, and 41% across the last four quarters. PineBridge analysts argue data center equipment growth is “essentially locked in for the next four to five years” at roughly 25% annually given electrical infrastructure constraints.
Layer on a record backlog, Construction Industries expanding margins to 21.4%, and $5 billion of Q1 buybacks, and the bull scenario gets you to our $1,113.73 upside target.
The Risks Worth Watching The bear case is the price, the tariffs, and the multiple. CAT trades at a forward P/E of 41x, well above its historical range. Management guided full-year tariff impact of $1.30 to $1.50 billion, and Resource Industries segment profit fell 39% in Q1. Insiders are net sellers across 66 recent transactions.
The Street’s consensus target of $949.68 sits below the current price, and our bear case scenario implies $842.92, an 18.81% drawdown. Bulls would counter that margin compression reflects transitory tariff absorption rather than structural deterioration, and that the dealer inventory build supports a longer cycle.
Caterpillar Price Prediction 2026-2030 The 24/7 Wall St. price target of $1,061.82 earns a hold with 90% confidence. The business is excellent. The stock has simply priced in a lot of that excellence after a 169.49% one-year run.
A pullback toward the 200-day moving average near $673, or confirmation that tariff costs roll off into 2027, would reset the entry case. The setup weakens if Power Generation growth decelerates below 20% or if Resource Industries margins continue to compress.
Year 24/7 Wall St. Price Target 2026 $1,061.82 2027 $1,108.22 2028 $1,154.63 2029 $1,201.03 2030 $1,247.43 These projections assume Caterpillar continues converting its record backlog while tariff pressures normalize. Significant upside could come from accelerated data center capex, while a U.S. infrastructure slowdown or commodity downturn would test the floor.
Josh Brown doporučuje držet Interactive Brokers, Caterpillar a Delta Air Lines do konce roku 2026, protože všechny tři dál výrazně překonávají trh. U IBKR, CAT i DAL ho podporují silné výsledky a růst podnikání.
Ritholtz Wealth Management’s top executive, Josh Brown, is recommending investors stick with three outperformers through the end of this year (2026).
His top picks – Interactive Brokers, Caterpillar, and Delta Air Lines – have notably outperformed the broader market in recent months, which Brown believes justifies owning these names for the long term.
According to him, positions that keep working need no new reason to stay in your portfolio.
IBKR shares have been on Brown’s list of “Best Stocks in the Market” ever since they broke out of a cup-and-handle pattern in mid-2025.
In the trailing 12 months, the global electronic brokerage firm has rallied a remarkable 80%.
Brown attributed part of this explosive move to a float that’s small relative to founder Thomas Peterffy’s stake – limiting supply as demand persists.
Crucially, Interactive Brokers’ Q1 results back up the chart: client accounts grew 31% year over year to 4.75 million, client equity rose 38%, and margin loans climbed by some 40% to $90 billion.
In the first quarter, the company’s commissions hit a record $613 million – with stock, futures, and options volume all posting double-digit annual gains.
A 0.36% dividend yield makes IBKR even more attractive to own in 2026.
Caterpillar stock joined Brown’s list in April primarily because of its Power and Energy segment’s exposure to the AI infrastructure buildout – a thesis that has since strengthened.
In Q1, the company’s power generation sales grew a whopping 48% year-over-year – pushing the order backlog up 79% to record levels.
This even prompted management to raise its 2026 revenue guidance and more than triple its long-term power generation target through the end of this decade.
Despite a 270 bps tariff hit, CAT’s adjusted earnings per share (EPS) came in up 30% in the latest reported quarter.
Note that a gas engine running continuously for data centers generates about 40x the lifetime services revenue of a standby diesel unit.
Caterpillar remains attractive also because its board lifted the quarterly dividend recently to $1.63, extending a 32-year streak.
At writing, the firm’s share price is up nearly 45% versus early April.
Josh Brown first shared his constructive view on Delta Air Lines stock in December 2025, and it’s gained more than 20% since then.
The rebound has been led by premium and corporate demand: premium revenue grew 14% in Q1, loyalty sales came in up 13%, while corporate bookings hit a quarterly record.
The main cabin posted positive unit revenue growth, its first since late 2024, with domestic revenue and international revenue gaining 6% and 5%, respectively.
A record $14.2 billion in Q1 sales saw free cash flow hit $1.2 billion, with the outlook for the current quarter pointing to low-teens revenue growth.
Much like the other names on his list, DAL shares also currently pay a dividend yield of 1%.
AI boom žene poptávku po elektřině a z Caterpillaru, GE Vernova i Bloom Energy dělá jedny z největších letošních vítězů. Caterpillar i GE Vernova hlásí rekordní backlogy, Bloom prudce zvedl výhled tržeb i zisku.
The artificial intelligence boom has created enormous wealth for chipmakers and cloud computing giants.
Yet some of the stock market's biggest winners this year have been companies selling products that look more at home in industrial equipment catalogues than in Silicon Valley.
Shares of Caterpillar, GE Vernova, and Bloom Energy have posted returns rivalling many technology leaders in 2026, as investors increasingly focus on one of the biggest constraints facing artificial intelligence development.
The rapid construction of AI data centers has created unprecedented demand for reliable, round-the-clock power at a time when electricity grids around the world are struggling to keep pace.
Investors increasingly see the AI infrastructure buildout as part of a broader industrial transformation.
"If we go back five years or so, the opportunity was we're building more roads, we're building more bridges, and infrastructure was stage one," Chris Semenuk, an investment partner at Tema ETFs, said on an episode of the "Other People's Money" podcast last week.
With that infrastructure now built, the focus is broadening out, he noted.
Semenuk pointed to "unprecedented" backlogs at companies like Caterpillar and GE Vernova as evidence of the "reindustrialization" theme.
Caterpillar, best known for its yellow construction equipment, crossed a major milestone on Monday as its shares traded above $1,000, making it one of only two stocks in the S&P 500 with a four-digit share price.
The stock has gained more than 70% this year.
The company reported first-quarter revenue of $17.4 billion, up 22% from a year earlier, while adjusted earnings per share of $5.54 comfortably topped Wall Street expectations of $4.64.
The surprise driver of that growth was not construction activity but demand for power equipment.
Caterpillar's Power & Energy division, now the company's largest and fastest-growing business, generated revenue of $7.03 billion during the quarter, rising 22% year-on-year.
Within that segment, power generation sales jumped 41% to $2.82 billion, largely driven by data center projects.
The company's total backlog reached a record $63 billion, up 79% from a year earlier, primarily due to AI-related infrastructure spending.
Caterpillar's power and energy segment "is becoming increasingly dominant as demand for its large reciprocating engines and turbines swells with data-center/AI capital spending," Gimme Credit analyst Carol Levenson wrote in a recent note to clients.
The division now contributes roughly 40% of Caterpillar's revenue, matching the contribution from its traditional construction business.
Semenuk believes the opportunity is still in its early stages and said Caterpillar could be generating at least $10 in quarterly earnings per share by 2029, nearly double its latest quarterly earnings.
Among industrial companies, GE Vernova is perhaps the purest play on AI-driven electricity demand.
Spun out of General Electric in April 2024, the company manufactures gas turbines, grid equipment, and wind turbines.
Its shares have risen 66% this year.
GE Vernova posted better-than-expected earnings in April and raised its full-year outlook, sending the stock sharply higher.
The company expects its backlog for power generation and electrification equipment and services to reach $200 billion by the end of 2027, roughly one year ahead of its previous target.
Demand is being fueled by the construction of AI data centers, which has triggered an electricity investment boom not seen since the post-World War II period.
In the first quarter alone, GE Vernova booked $2.4 billion in electrification equipment orders tied specifically to data centers, surpassing the total booked during all of 2025.
Wall Street expects the company to generate earnings per share of about $24 in 2027, compared with estimates near $18 only a year ago.
After the company's latest earnings, Jefferies analyst Julien Dumoulin-Smith raised his price target on the stock to $1,350 from $965 while maintaining a Buy rating, arguing that strong business conditions should persist through the end of the decade.
Baird analyst Ben Kallo was even more optimistic, increasing his target price to $1,400 from $1,008 and retaining an Outperform rating.
The most dramatic gains have come from Bloom Energy.
Shares of the fuel-cell maker have surged roughly 250% this year as hyperscale data center operators seek alternatives to constrained power grids.
Bloom manufactures solid oxide fuel cells capable of generating electricity directly at data center campuses without relying on utility infrastructure.
The company's appeal lies not only in the amount of electricity AI facilities need but also in how quickly they can be deployed.
Grid connections for large data centers can take years to secure, while Bloom's systems can be installed in months.
Bloom recently raised its 2026 adjusted earnings forecast to between $1.85 and $2.25 per share, up from a previous range of $1.33 to $1.48.
It also lifted its revenue guidance to between $3.4 billion and $3.8 billion, implying approximately 80% growth at the midpoint.
The company was named the sole power provider for Oracle's Project Jupiter AI campus in New Mexico, which is expected to draw as much as 2.45 gigawatts of electricity from Bloom's fuel cells.
Separately, Nebius Group signed a master agreement worth up to $2.6 billion.
Despite the rally, analysts remain cautious.
Bernstein analyst Sunaina Ocalan initiated coverage with a Market Perform rating and a $276 price target, implying a 25% downside from current levels.
Bernstein said Bloom's solid fuel technology is "increasingly relevant in a scenario where grid infrastructure can't keep up with expected load growth," but added that investors need more confidence in the company's path toward sustainable cash flow and expansion capacity.
For now, the AI boom is reshaping market leadership in unexpected ways, turning power equipment manufacturers into some of Wall Street's most sought-after stocks as electricity becomes one of artificial intelligence's most valuable resources.
Caterpillar zakončil 1. čtvrtletí 2026 s rekordním backlogem ve výši 63 mld. USD, což podpořilo zvýšení výhledu na nízký dvouciferný růst tržeb v roce 2026.
Key Takeaways CAT ended Q1 2026 with a record $63B backlog, up 22% sequentially and 79% year over year.CAT raised its 2026 outlook to low double-digit sales growth, supported by strong demand trends.CAT sees demand from infrastructure, mining, and data center-related energy projects supporting growth. Caterpillar Inc.’s (CAT - Free Report) first-quarter 2026 results showcased strong revenue and earnings growth, but one metric stood out as a particularly important signal for investors: the order backlog. Unlike quarterly sales figures, backlog provides insight into future demand and revenue visibility, offering a clearer view of business momentum over the coming years.
Caterpillar ended the first quarter of 2026 with a record backlog of $63 billion. It was approximately $11.5 billion, or 22% higher sequentially, and $35 billion, or 79% higher than last year. Backlog increased across all three primary operating segments, reflecting broad-based demand strength throughout Caterpillar’s portfolio. About $24.8 billion of this backlog is not expected to be fulfilled within the next 12 months, highlighting the long-duration nature of many customer projects and the company’s growing revenue visibility.
The robust backlog also supports management’s improved outlook for the year. Caterpillar now expects low double-digit sales and revenue growth for 2026, above its earlier view for growth near the upper end of its long-term target range of 5-7%.
In Construction Industries, demand in North America continues to benefit from elevated infrastructure spending supported by the Infrastructure Investment and Jobs Act (IIJA). Ongoing investments in critical infrastructure projects and data center construction are also contributing to healthy activity levels. Within Resource Industries, favorable commodity prices and replacement demand for aging mining fleet are expected to support equipment orders.
In the Power & Energy segment, growth will be driven by sales of both reciprocating engines and turbines and turbine-related services, driven by increasing energy demand to support data center build-out related to cloud computing and generative Artificial Intelligence (AI). CAT is seeing demand for prime power solutions trend higher as data center customers look for alternative power solutions to keep pace with their growth.
Although quarterly revenues may vary with delivery schedules, Caterpillar’s record backlog points to sustained customer demand and provides a strong foundation for future earnings and cash-flow generation.
Industry peers are also reporting improving demand trends. Terex Corporation (TEX - Free Report) ended the first quarter with a backlog of $7.1 billion and a book-to-bill at 109%. Backlog increased 0.4% year over year, as strong booking trends in Materials Processing, Aerials, and Terex Utilities were offset by a decline at Environmental Solution. Terex’s recently completed merger with REV Group added the Specialty Vehicles segment, which contributed $4.48 billion to total backlog. Supported by its healthy order book and favorable end-market conditions, Terex reaffirmed its 2026 net sales outlook of $7.5-$8.1 billion.
Astec Industries (ASTE - Free Report) ended the first quarter with a backlog of $549.2 million, reflecting a 36.4% increase year over year, pointing to improving demand visibility across the portfolio. Astec’s Materials Solutions backlog rose 87.5% to $236.6 million, while Infrastructure Solutions segment’s backlog increased 13.1% to $312.6 million.
Although considerably smaller than Caterpillar, both Terex and Astec reported expanding backlogs. This suggests customers in the industry continue to commit capital to construction and infrastructure projects despite economic uncertainty.
CAT’s Price Performance, Valuation & EstimatesCAT shares have gained 75.6% over the past six months compared with the industry’s 56.2% growth.
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Caterpillar is currently trading at a forward 12-month price/earnings (P/E) ratio of 37.20X compared with the industry average of 33.71X.
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The Zacks Consensus Estimate for CAT’s 2026 earnings indicates year-over-year growth of 29.3%. The consensus mark for revenues implies an increase of 13.2% for the year. The earnings estimate for 2027 indicates 24.3% growth, with revenues rising 10.3%.
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Earnings estimates for Caterpillar for both 2026 and 2027 have moved up over the past 60 days, as shown in the chart below.
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Caterpillar stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
