Brokers Set Expectations for Caterpillar FY2026 Earnings

Caterpillar Inc. (NYSE:CAT) – Stock analysts at Erste Group Bank raised their FY2026 earnings per share (EPS) estimates for Caterpillar in a report released on Monday, April 27th. Erste Group Bank analyst H. Engel now expects that the industrial products company will earn $22.97 per share for the year, up from their previous estimate of $22.90. The consensus estimate for Caterpillar’s current full-year earnings is $22.89 per share. Erste Group Bank also issued estimates for Caterpillar’s FY2027 earnings at $27.99 EPS.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The firm had revenue of $19.13 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the firm posted $5.14 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis.

Several other research firms have also weighed in on CAT. Truist Financial increased their target price on Caterpillar from $786.00 to $920.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Raymond James Financial reiterated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Oppenheimer boosted their price objective on Caterpillar from $817.00 to $832.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Sanford C. Bernstein raised their target price on shares of Caterpillar from $678.00 to $769.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Finally, Citigroup raised their target price on shares of Caterpillar from $785.00 to $905.00 and gave the stock a “buy” rating in a report on Monday, April 13th. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $767.77.

Caterpillar Trading Down 1.2%

NYSE:CAT opened at $818.45 on Wednesday. Caterpillar has a 1-year low of $302.17 and a 1-year high of $845.27. The business’s 50-day moving average price is $743.10 and its two-hundred day moving average price is $652.29. The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $380.82 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 1.91 and a beta of 1.52.

Institutional Investors Weigh In On Caterpillar

A number of hedge funds and other institutional investors have recently bought and sold shares of CAT. Lam Group Inc. acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $26,000. Torren Management LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $27,000. Marquette Asset Management LLC increased its position in shares of Caterpillar by 1,060.0% during the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 53 shares during the last quarter. Frazier Financial Advisors LLC increased its position in shares of Caterpillar by 220.0% during the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 33 shares during the last quarter. Finally, IFS Advisors LLC acquired a new position in shares of Caterpillar during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lange Bob De sold 22,656 shares of Caterpillar stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $720.11, for a total value of $16,314,812.16. Following the sale, the insider owned 79,953 shares of the company’s stock, valued at approximately $57,574,954.83. This trade represents a 22.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO William E. Schaupp sold 972 shares of Caterpillar stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $764.20, for a total value of $742,802.40. Following the completion of the sale, the chief accounting officer directly owned 824 shares in the company, valued at approximately $629,700.80. This represents a 54.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,950 shares of company stock worth $88,577,390 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Caterpillar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, April 20th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, April 20th. Caterpillar’s dividend payout ratio (DPR) is currently 32.09%.

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Wells Fargo raised its price target on CAT to $960 (from $870) and boosted 2026–2028 EPS forecasts, citing contributions from the Solar Turbines project — a direct analyst upgrade that supports higher fair?value expectations. Wells Fargo Lifts PT on Caterpillar
• Positive Sentiment: Zacks Research nudged several quarterly EPS estimates higher (small bumps to Q3/Q4 2026–27 and FY2028), signaling incremental analyst confidence in near?to?medium term earnings momentum. Zacks Research EPS revisions
• Positive Sentiment: Macro/structural upside: multiple pieces note rising power demand from data centers and continued strength in construction/mining end markets — themes that support longer?term revenue and aftermarket parts growth. Caterpillar Positioned for Long-Term Growth
• Positive Sentiment: High-profile bullish commentary (eg. Jim Cramer) is pushing expectations for a strong Q1 print, which can amplify momentum if results beat. Jim Cramer: “I Actually Expect a Huge Number”
• Neutral Sentiment: Pre?earnings previews from Zacks and Yahoo dig into key metrics beyond headline revenue/EPS, useful for parsing parts, backlog and margins but not headline movers on their own. Ahead of Caterpillar Q1 Earnings: Wall Street Estimates
• Neutral Sentiment: Analyst writeups comparing cycle positions vs. peers (eg. Deere) highlight where CAT sits in its equipment cycle — important context for investors but not an immediate catalyst. Caterpillar and Deere Cycle Comparison
• Negative Sentiment: Balanced caution: preview articles note rising costs and CAT’s premium valuation — factors that make the near?term risk/reward less clear and can prompt profit?taking ahead of the Q1 print. Caterpillar Set to Report Q1 Earnings: Buy, Sell or Hold?

Caterpillar Company Profile

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.