Caterpillar Inc. $CAT Stock: Summit Global Investments Grows Stake

Summit Global Investments raised its stake in Caterpillar Inc. (NYSE:CAT) by 75.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,940 shares of the industrial products company’s stock after buying an additional 1,267 shares during the period. Summit Global Investments’ holdings in Caterpillar were worth $2,384,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAT. BlackRock Inc. acquired a new position in Caterpillar in the 2nd quarter worth approximately $40,457,153,000. State Street Corp boosted its position in Caterpillar by 4.0% during the second quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock valued at $37,120,529,000 after purchasing an additional 1,396,356 shares during the last quarter. Bank of America Corp DE purchased a new position in Caterpillar in the second quarter valued at about $5,818,150,000. Bank of New York Mellon Corp acquired a new position in Caterpillar in the second quarter worth approximately $3,192,710,000. Finally, Legal & General Group Plc acquired a new stake in Caterpillar in the second quarter valued at approximately $2,783,451,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAT has been the subject of several analyst reports. Wall Street Zen lowered shares of Caterpillar from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research cut Caterpillar from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Royal Bank Of Canada lowered their price target on Caterpillar from $897.00 to $722.00 and set a “sector perform” rating on the stock in a report on Friday. Truist Financial reaffirmed a “buy” rating and set a $1,027.00 target price (down from $1,100.00) on shares of Caterpillar in a research report on Friday. Finally, Needham & Company LLC set a $980.00 price objective on shares of Caterpillar in a research note on Thursday, September 10th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $913.96.

Caterpillar News Summary

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar reported third-quarter sales and revenues of approximately $20.7 billion, up 17% year over year, while adjusted earnings per share of $7.20 exceeded the $7.06 consensus estimate. Power-generation sales increased 30%, helped by data-center demand, and the company reported a record $78.1 billion backlog. Caterpillar Reports Third-Quarter 2026 Results
• Positive Sentiment: Truist Financial reaffirmed its “buy” rating, while Citigroup maintained a “buy” rating despite lowering its price target to $800. Both targets remain above the current trading level, suggesting some analysts see substantial long-term upside.
• Neutral Sentiment: Bank of America said Caterpillar’s earnings power remains intact, and analysts expect revenue and EPS growth as the backlog converts. However, the backlog may extend into 2029–2030, meaning investors could wait longer for the full financial benefit.
• Negative Sentiment: Management left its annual growth outlook unchanged and indicated only “moderate” fourth-quarter revenue growth. Investors had expected a stronger forecast or an upgrade, so the unchanged guidance overshadowed the earnings beat. Caterpillar Tops Quarterly Profit View
• Negative Sentiment: Revenue came in slightly below consensus, while tariff expenses and rising inventories added to concerns about costs, demand timing and near-term margins.
• Negative Sentiment: Several firms reduced their targets: Morgan Stanley cut its target to $675 and rated CAT “equal weight,” RBC lowered its target to $722 with a “sector perform” rating, and Truist reduced its target to $1,027. These cuts reinforce concerns that the stock’s premium valuation had become difficult to justify without faster growth.

Caterpillar Price Performance

Caterpillar stock opened at $622.73 on Friday. The business’s 50-day simple moving average is $783.25 and its 200 day simple moving average is $807.52. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. Caterpillar Inc. has a 12-month low of $537.08 and a 12-month high of $1,073.46. The stock has a market cap of $286.25 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 1.07 and a beta of 1.58.

Caterpillar (NYSE:CAT) last issued its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, beating the consensus estimate of $7.06 by $0.14. The company had revenue of $20.68 billion during the quarter, compared to analysts’ expectations of $20.76 billion. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.95 EPS. As a group, research analysts anticipate that Caterpillar Inc. will post 27.75 earnings per share for the current year.

Caterpillar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, October 26th. Caterpillar’s dividend payout ratio (DPR) is 25.58%.

Insiders Place Their Bets

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares in the company, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

About Caterpillar

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.