Caterpillar (NYSE:CAT) Trading Up 3.3% on Analyst Upgrade

23 Apr 2026, 16:52 by Amy Steele · The Cerbat Gem

Shares of Caterpillar Inc. (NYSE:CAT – Get Free Report) traded up 3.3% during trading on Thursday after Robert W. Baird raised their price target on the stock from $805.00 to $940.00. Robert W. Baird currently has an outperform rating on the stock. Caterpillar traded as high as $845.27 and last traded at $835.5250. 2,570,664 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 2,717,324 shares. The stock had previously closed at $808.87.

Several other analysts also recently commented on the stock. Citigroup boosted their target price on shares of Caterpillar from $785.00 to $905.00 and gave the stock a “buy” rating in a research report on Monday, April 13th. CICC Research assumed coverage on shares of Caterpillar in a research report on Friday, February 6th. They issued an “outperform” rating for the company. Raymond James Financial reissued a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Williams Trading set a $825.00 target price on shares of Caterpillar in a research report on Tuesday, March 10th. Finally, Daiwa Securities Group boosted their target price on shares of Caterpillar from $640.00 to $790.00 in a research report on Wednesday, February 25th. Sixteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $767.77.

View Our Latest Stock Analysis on Caterpillar

Insider Activity at Caterpillar

In other Caterpillar news, insider Rodney Michael Shurman sold 2,278 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $759.61, for a total transaction of $1,730,391.58. Following the completion of the sale, the insider directly owned 1,443 shares in the company, valued at $1,096,117.23. This represents a 61.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lange Bob De sold 22,656 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $720.11, for a total transaction of $16,314,812.16. Following the sale, the insider owned 79,953 shares of the company’s stock, valued at $57,574,954.83. This trade represents a 22.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 125,950 shares of company stock valued at $88,577,390. 0.33% of the stock is owned by corporate insiders.

Caterpillar News Summary

Here are the key news stories impacting Caterpillar this week:

Positive Sentiment: Robert W. Baird raised its price target on CAT to $940 and kept an “outperform” rating, signaling meaningful upside from recent levels and lending conviction to bullish positioning. Baird Adjusts Price Target on Caterpillar
Positive Sentiment: Street expectations point to accelerating earnings and a likely beat in the upcoming report — analysts cite the right combination of revenue/operating drivers that could lift consensus estimates and support the stock. Caterpillar Earnings Expected to Grow
Positive Sentiment: Coverage is reframing Caterpillar as an unexpected beneficiary of the AI/data‑center buildout — demand for large-scale power (generators, electrification) and automation positions CAT as more than a traditional heavy‑equipment play, supporting a higher valuation multiple. More Than Just Dirt: Caterpillar Is the AI Stock
Positive Sentiment: Bullish retail/analysis pieces are floating even higher price targets (e.g., $1,000 scenarios) as momentum and the AI narrative drive investor interest — this fuels FOMO and momentum flows into the shares. Is Caterpillar Stock Headed for $1,000?
Positive Sentiment: At least one major analyst at Truist expects CAT shares to rise, adding institutional endorsement to the bullish case and likely supporting buy‑side demand. Truist Analyst Expects CAT Stock to Rise
Neutral Sentiment: Caterpillar named a longtime executive as its new CFO and reiterated its quarterly dividend, which supports shareholder‑friendly optics but is not a catalytic growth signal. Caterpillar Elects New CFO
Neutral Sentiment: Commentary asking whether investors are “too late” to the rally highlights elevated valuation and momentum—this is a reminder of risk even as sentiment stays positive. Is It Too Late To Consider Caterpillar?

Institutional Trading of Caterpillar

Hedge funds have recently bought and sold shares of the stock. Lam Group Inc. bought a new stake in Caterpillar in the 1st quarter valued at $26,000. Torren Management LLC bought a new stake in Caterpillar in the 4th quarter valued at $27,000. Marquette Asset Management LLC boosted its holdings in 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 purchasing an additional 53 shares during the period. Frazier Financial Advisors LLC boosted its holdings in 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 purchasing an additional 33 shares during the period. Finally, IFS Advisors LLC bought a new stake in Caterpillar in the 4th quarter valued at $31,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Trading Up 3.3%

The company has a current ratio of 1.44, a quick ratio of 0.94 and a debt-to-equity ratio of 1.44. The business’s fifty day simple moving average is $738.25 and its two-hundred day simple moving average is $641.87. The stock has a market capitalization of $388.76 billion, a P/E ratio of 44.40, a P/E/G ratio of 1.88 and a beta of 1.52.

Caterpillar (NYSE:CAT – Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.14 EPS. As a group, analysts forecast that Caterpillar Inc. will post 22.88 earnings per share for the current year.

Caterpillar Dividend Announcement

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

About Caterpillar

(Get Free Report)

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.