Caterpillar (NYSE:CAT) Price Target Raised to $1,165.00 at Robert W. Baird

02 May 2026, 13:41 by Renee Jackson · The Cerbat Gem

Caterpillar (NYSE:CAT – Free Report) had its price target increased by Robert W. Baird from $940.00 to $1,165.00 in a research note issued to investors on Friday, MarketBeat.com reports. They currently have an outperform rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on CAT. Williams Trading set a $825.00 price target on shares of Caterpillar in a research report on Tuesday, March 10th. HSBC upped their price target on shares of Caterpillar from $660.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Jefferies Financial Group upped their price target on shares of Caterpillar from $825.00 to $900.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Rothschild & Co Redburn upped their price target on shares of Caterpillar from $650.00 to $700.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, Royal Bank Of Canada upped their price target on shares of Caterpillar from $587.00 to $658.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $862.32.

Read Our Latest Report on Caterpillar

Caterpillar Price Performance

Shares of NYSE:CAT traded up $0.04 on Friday, hitting $890.15. The stock had a trading volume of 2,374,713 shares, compared to its average volume of 2,181,138. The firm’s 50 day moving average price is $746.86 and its 200-day moving average price is $655.04. The company has a market capitalization of $414.18 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 2.05 and a beta of 1.63. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.94 and a current ratio of 1.35. Caterpillar has a twelve month low of $318.11 and a twelve month high of $905.00.

Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $16.53 billion. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.25 EPS. On average, equities research analysts predict that Caterpillar will post 22.89 earnings per share for the current year.

Caterpillar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Monday, April 20th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, April 20th. Caterpillar’s payout ratio is currently 32.09%.

Insider Activity

In other Caterpillar news, insider Lange Bob De sold 22,656 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $720.11, for a total transaction of $16,314,812.16. Following the completion of the sale, the insider directly owned 79,953 shares of the company’s stock, valued at approximately $57,574,954.83. The trade was a 22.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joseph E. Creed sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $718.93, for a total value of $1,797,325.00. Following the sale, the chief executive officer directly owned 35,083 shares of the company’s stock, valued at $25,222,221.19. This represents a 6.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 125,950 shares of company stock worth $88,577,390. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of Caterpillar

Institutional investors and hedge funds have recently modified their holdings of the stock. Lam Group Inc. bought a new stake in shares of Caterpillar in the 1st quarter valued at about $26,000. Torren Management LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $27,000. Marquette Asset Management LLC increased its stake in shares of Caterpillar by 1,060.0% in the 3rd quarter. Marquette Asset Management LLC now owns 58 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 53 shares during the last quarter. Frazier Financial Advisors LLC increased its stake in shares of Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 33 shares during the last quarter. Finally, IFS Advisors LLC bought a new stake in shares of Caterpillar in the 4th quarter valued at about $31,000. 70.98% of the stock is owned by institutional investors.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

Positive Sentiment: Caterpillar beat Q1 revenue and EPS expectations and reported a record backlog, driven by higher volume and pricing across construction and power systems — a core reason the stock rallied after earnings. Caterpillar expects AI-driven demand for power, construction to fuel growth — Reuters
Positive Sentiment: Analysts sharply raised price targets and upgraded ratings (JPMorgan, Jefferies, Wells Fargo, Baird, Citigroup, Morgan Stanley among others), signaling renewed street confidence and creating upward momentum for the stock. Morgan Stanley Doubles Price Target to $915 — 247WallSt
Positive Sentiment: Demand tied to AI/data-center buildouts is boosting Cat’s power and energy backlog; management is raising 2030 targets and plans to roughly triple power-generation capacity, which supports a multi-year growth runway beyond cyclical construction. Caterpillar to triple power generation capacity — Yahoo Finance
Positive Sentiment: Market narrative has shifted: short interest and skeptical bears are receding as the AI-power story gains traction, amplifying upside as skeptics fold. Caterpillar’s biggest bear folds as AI power demand soars — Mining.com
Positive Sentiment: Strategic partnerships (e.g., framework with ProPetro’s PROPWR) and large supply agreements for data-center and industrial power strengthen the revenue mix in higher-margin power systems. Caterpillar taps PROPWR and data centers — Yahoo Finance
Neutral Sentiment: Technical momentum is strong (IBD composite rating surged toward the top of the universe) and the company announced a virtual annual shareholder meeting; these are market-interest and governance items rather than direct catalysts. IBD Composite Rating Surges — Yahoo/IBD
Negative Sentiment: Management warned of significant tariff costs for 2026 — a $2.2B–$2.4B range — that will pressure margins and partially offset revenue strength; investors should watch margin trends and any changes to the tariff outlook. Caterpillar signals tariff cost range and 2026 sales growth — Seeking Alpha

About Caterpillar

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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.