Investment Analysts’ Recent Ratings Changes for Caterpillar (CAT)

A number of firms have modified their ratings and price targets on shares of Caterpillar (NYSE: CAT) recently:

• 11/13/2025 – Caterpillar is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $675.00 price target on the stock.
• 11/13/2025 – Caterpillar is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $675.00 price target on the stock.
• 11/11/2025 – Caterpillar had its “buy (b)” rating reaffirmed by analysts at Weiss Ratings.
• 11/6/2025 – Caterpillar was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating.
• 11/5/2025 – Caterpillar was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating. They now have a $660.00 price target on the stock, up previously from $405.00.
• 11/5/2025 – Caterpillar had its “market perform” rating reaffirmed by analysts at Sanford C. Bernstein.
• 11/5/2025 – Caterpillar had its price target raised by analysts at Jefferies Financial Group Inc. from $570.00 to $700.00. They now have a “buy” rating on the stock.
• 11/4/2025 – Caterpillar had its price target raised by analysts at UBS Group AG from $506.00 to $581.00. They now have a “neutral” rating on the stock.
• 11/3/2025 – Caterpillar had its price target raised by analysts at DA Davidson from $408.00 to $569.00. They now have a “neutral” rating on the stock.
• 10/31/2025 – Caterpillar had its price target raised by analysts at Citigroup Inc. from $570.00 to $670.00. They now have a “buy” rating on the stock.
• 10/30/2025 – Caterpillar had its price target raised by analysts at Barclays PLC from $485.00 to $555.00. They now have an “equal weight” rating on the stock.
• 10/30/2025 – Caterpillar had its price target raised by analysts at JPMorgan Chase & Co. from $650.00 to $730.00. They now have an “overweight” rating on the stock.
• 10/30/2025 – Caterpillar had its price target raised by analysts at Sanford C. Bernstein from $502.00 to $557.00. They now have a “market perform” rating on the stock.
• 10/30/2025 – Caterpillar had its price target raised by analysts at Morgan Stanley from $350.00 to $380.00. They now have an “underweight” rating on the stock.
• 10/30/2025 – Caterpillar had its price target raised by analysts at Robert W. Baird from $612.00 to $680.00. They now have an “outperform” rating on the stock.
• 10/30/2025 – Caterpillar had its price target raised by analysts at Oppenheimer Holdings, Inc. from $513.00 to $645.00. They now have an “outperform” rating on the stock.
• 10/30/2025 – Caterpillar had its “buy” rating reaffirmed by analysts at Truist Financial Corporation. They now have a $729.00 price target on the stock, up previously from $582.00.
• 10/30/2025 – Caterpillar had its price target raised by analysts at Bank of America Corporation from $594.00 to $650.00. They now have a “buy” rating on the stock.
• 10/22/2025 – Caterpillar is now covered by analysts at Royal Bank Of Canada. They set a “sector perform” rating and a $560.00 price target on the stock.
• 10/20/2025 – Caterpillar had its price target raised by analysts at Robert W. Baird from $540.00 to $612.00.
• 10/17/2025 – Caterpillar had its price target raised by analysts at Barclays PLC from $425.00 to $485.00. They now have an “equal weight” rating on the stock.
• 10/15/2025 – Caterpillar had its price target raised by analysts at Bank of America Corporation from $517.00 to $594.00. They now have a “buy” rating on the stock.
• 10/14/2025 – Caterpillar had its price target raised by analysts at Sanford C. Bernstein from $447.00 to $502.00. They now have a “market perform” rating on the stock.
• 10/14/2025 – Caterpillar had its “buy (b)” rating reaffirmed by analysts at Weiss Ratings.
• 10/14/2025 – Caterpillar had its price target raised by analysts at JPMorgan Chase & Co. from $505.00 to $650.00. They now have an “overweight” rating on the stock.
• 10/13/2025 – Caterpillar had its price target raised by analysts at UBS Group AG from $450.00 to $506.00. They now have a “neutral” rating on the stock.
• 10/8/2025 – Caterpillar had its price target raised by analysts at Truist Financial Corporation from $507.00 to $582.00. They now have a “buy” rating on the stock.
• 10/8/2025 – Caterpillar had its price target raised by analysts at Jefferies Financial Group Inc. from $500.00 to $570.00. They now have a “buy” rating on the stock.
• 10/7/2025 – Caterpillar had its price target raised by analysts at Citigroup Inc. from $540.00 to $570.00. They now have a “buy” rating on the stock.
• 10/3/2025 – Caterpillar was upgraded by analysts at Erste Group Bank AG from a “hold” rating to a “buy” rating.
• 9/29/2025 – Caterpillar had its price target raised by analysts at Oppenheimer Holdings, Inc. from $480.00 to $513.00. They now have an “outperform” rating on the stock.
• 9/27/2025 – Caterpillar had its “buy (b-)” rating reaffirmed by analysts at Weiss Ratings.
• 9/23/2025 – Caterpillar had its “buy” rating reaffirmed by analysts at Citigroup Inc..
• 9/22/2025 – Caterpillar had its price target raised by analysts at Bank of America Corporation from $495.00 to $517.00. They now have a “buy” rating on the stock.
• 9/22/2025 – Caterpillar had its price target raised by analysts at Citigroup Inc. from $500.00 to $540.00. They now have a “buy” rating on the stock.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Monday, October 20th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, October 20th. Caterpillar’s dividend payout ratio is 31.01%.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 8,184 shares of Caterpillar stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $570.18, for a total value of $4,666,353.12. Following the completion of the transaction, the insider directly owned 41,512 shares of the company’s stock, valued at $23,669,312.16. The trade was a 16.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason Kaiser sold 10,707 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the sale, the insider directly owned 8,649 shares in the company, valued at $4,874,576.40. This represents a 55.32% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 86,229 shares of company stock valued at $43,323,118. Insiders own 0.33% of the company’s stock.

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.