Caterpillar Inc. $CAT Stock Sold by Heritage Investors Management Corp

02 Nov 2026, 11:59 by Tristan Rich · The Markets Daily

Heritage Investors Management Corp decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 3.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 100,773 shares of the industrial products company’s stock after selling 3,629 shares during the quarter. Caterpillar makes up approximately 2.3% of Heritage Investors Management Corp’s investment portfolio, making the stock its 8th largest position. Heritage Investors Management Corp’s holdings in Caterpillar were worth $81,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAT. Decker Retirement Planning Inc. raised its stake in Caterpillar by 440.0% during the 2nd quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 22 shares during the last quarter. PFS Partners LLC lifted its position in Caterpillar by 1,750.0% during the 3rd quarter. PFS Partners LLC now owns 37 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 35 shares during the period. Matrix Trust Co grew its stake in shares of Caterpillar by 93.8% in the 2nd quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of Caterpillar by 82.1% in the 1st quarter. Cedar Mountain Advisors LLC now owns 51 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 23 shares during the last quarter. Finally, Axiom Investment Management LLC acquired a new position in shares of Caterpillar in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Caterpillar Trading Down 0.0%

NYSE CAT opened at $622.73 on Monday. Caterpillar Inc. has a 12 month low of $537.08 and a 12 month high of $1,073.46. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.42 and a quick ratio of 0.88. The company has a 50-day moving average of $783.25 and a 200-day moving average of $807.52. The company has a market cap of $286.25 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.07 and a beta of 1.65.

Caterpillar (NYSE:CAT – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The industrial products company reported $7.20 earnings per share for the quarter, topping analysts’ consensus estimates of $7.06 by $0.14. The company had revenue of $20.68 billion for the quarter, compared to the consensus estimate of $20.76 billion. Caterpillar had a net margin of 15.21% and a return on equity of 59.87%. Caterpillar’s revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.95 earnings per share. As a group, equities analysts predict that Caterpillar Inc. will post 27.75 earnings per share for the current year.

Caterpillar Announces Dividend

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

Key Stories Impacting Caterpillar

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.

Insiders Place Their Bets

In other news, CEO Joseph E. Creed sold 32,401 shares of the firm’s 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 sale, the chief executive officer directly owned 34,555 shares in the company, valued at $27,954,303.90. This trade represents a 48.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CAT has been the subject of several analyst reports. Erste Group Bank cut Caterpillar from a “buy” rating to a “hold” rating in a research note on Monday, July 27th. Royal Bank Of Canada lowered their price objective on shares of Caterpillar from $897.00 to $722.00 and set a “sector perform” rating on the stock in a research report on Friday. UBS Group dropped their price objective on shares of Caterpillar from $925.00 to $750.00 and set a “neutral” rating on the stock in a research note on Monday, October 26th. Oppenheimer restated an “outperform” rating and set a $1,009.00 price objective on shares of Caterpillar in a research report on Thursday. Finally, Freedom Broker upgraded shares of Caterpillar from a “hold” rating to a “buy” rating and set a $980.00 target price for the company in a research note on Thursday, September 10th. Fifteen analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $913.96.

Get Our Latest Report on CAT

Caterpillar Profile

(Free Report)

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.