Caterpillar Inc. $CAT Shares Acquired by Welch & Forbes LLC

Welch & Forbes LLC increased its position in shares of Caterpillar Inc. (NYSE:CAT) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,137 shares of the industrial products company’s stock after acquiring an additional 1,106 shares during the period. Welch & Forbes LLC’s holdings in Caterpillar were worth $21,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CAT. Pekin Hardy Strauss Inc. boosted its position in shares of Caterpillar by 3.5% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 893 shares of the industrial products company’s stock valued at $951,000 after purchasing an additional 30 shares in the last quarter. Byrne Financial Freedom LLC lifted its stake in Caterpillar by 18.5% during the second quarter. Byrne Financial Freedom LLC now owns 1,031 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 161 shares during the last quarter. Elevated Private Wealth LLC bought a new stake in Caterpillar during the second quarter worth approximately $2,809,000. Kercheville Advisors LLC grew its position in Caterpillar by 81.2% in the second quarter. Kercheville Advisors LLC now owns 5,190 shares of the industrial products company’s stock worth $5,527,000 after buying an additional 2,325 shares during the last quarter. Finally, Kiker Wealth Management LLC acquired a new position in Caterpillar in the second quarter worth approximately $256,000. 70.98% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Margins and 2026 outlook improved. Caterpillar’s second-quarter adjusted operating margin increased 430 basis points as higher sales volumes and pricing more than offset tariff-related costs and other expenses. The improvement helped support an upgraded 2026 outlook. Caterpillar’s Q2 Adjusted Operating Margin Rebounds: Is the Worst Over?
• Positive Sentiment: Record performance and backlog remain supportive. Recent coverage highlighted quarterly revenue of roughly $20.5 billion, a sizable earnings beat, year-over-year revenue growth of approximately 24%, and a strong backlog. These factors suggest continued demand for Caterpillar’s construction, mining, and industrial equipment.
• Neutral Sentiment: Analyst targets imply potential upside but also a high bar. Recent price targets have a median of $990, with estimates ranging from $845 to $1,218. However, Caterpillar’s elevated forward valuation leaves the stock sensitive to any slowdown in orders, margins, or economic growth.
• Neutral Sentiment: Relative performance coverage offers limited direction. Articles comparing Caterpillar with Gorman-Rupp and the broader industrial-products sector provide context on performance but do not identify a new fundamental catalyst for CAT.
• Negative Sentiment: Macro concerns are overshadowing company-specific strength. Investor discussions point to interest-rate uncertainty and broader industrial-sector worries as reasons for selling pressure following the earnings outperformance. The stock has also pulled back notably from its recent high, increasing focus on its valuation.
• Negative Sentiment: Insider selling and bearish positioning add pressure. QuiverQuant data shows substantially more insider sales than purchases over the past six months, while Michael Burry is reportedly betting against CAT. These signals may reinforce caution, although insider transactions can reflect portfolio and compensation decisions rather than a direct view of fundamentals.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAT. Rothschild & Co Redburn raised their price objective on Caterpillar from $700.00 to $950.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Robert W. Baird set a $970.00 price target on Caterpillar in a research report on Wednesday, August 5th. Oppenheimer reissued an “outperform” rating and issued a $1,118.00 price target on shares of Caterpillar in a research note on Tuesday, August 4th. 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 report on Friday, May 1st. Finally, Barclays raised their target price on shares of Caterpillar from $800.00 to $900.00 and gave the stock an “equal weight” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $995.52.

Caterpillar Stock Performance

Shares of Caterpillar stock opened at $812.10 on Tuesday. Caterpillar Inc. has a 12 month low of $410.52 and a 12 month high of $1,073.46. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. The stock has a market cap of $373.30 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 1.45 and a beta of 1.60. The business has a fifty day simple moving average of $906.43 and a 200-day simple moving average of $834.90.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate of $6.22 by $1.95. The firm had revenue of $20.54 billion for the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.Caterpillar’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.72 earnings per share. On average, sell-side analysts anticipate that Caterpillar Inc. will post 27.14 EPS for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Monday, July 20th were issued a $1.63 dividend. The ex-dividend date was Monday, July 20th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Caterpillar’s previous quarterly dividend of $1.51. Caterpillar’s dividend payout ratio is currently 28.06%.

About Caterpillar

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.