15,115 Shares in Caterpillar Inc. $CAT Bought by Covington Investment Advisors Inc.

Key Points

• Covington Investment Advisors acquired 15,115 Caterpillar shares worth approximately $16.1 million, making CAT its 15th-largest holding and representing 2.1% of its portfolio. Institutional investors collectively own about 70.98% of Caterpillar.
• Caterpillar reported strong quarterly results, with EPS of $8.17 beating estimates by $1.95 and revenue rising 23.7% year over year to $20.54 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $995.52.
• The company raised its quarterly dividend to $1.63 per share, while CEO Joseph Creed sold 32,401 shares for about $26.2 million, reducing his direct ownership by 48.39%.

Covington Investment Advisors Inc. purchased a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,115 shares of the industrial products company's stock, valued at approximately $16,096,000. Caterpillar makes up 2.1% of Covington Investment Advisors Inc.'s holdings, making the stock its 15th largest holding.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Caterpillar during the 2nd quarter valued at approximately $40,457,153,000. Diamant Asset Management Inc. lifted its holdings in shares of Caterpillar by 68,427.2% in the 1st quarter. Diamant Asset Management Inc. now owns 3,140,603 shares of the industrial products company's stock valued at $2,224,992,000 after buying an additional 3,136,020 shares during the period. Bank of New York Mellon Corp purchased a new stake in Caterpillar in the 2nd quarter worth approximately $3,192,710,000. Ascentis Wealth Management LLC boosted its holdings in Caterpillar by 110,539.0% during the second quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company's stock worth $2,711,772,000 after buying an additional 2,515,867 shares in the last quarter. Finally, Capital International Investors purchased a new position in Caterpillar during the fourth quarter worth approximately $1,225,317,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CAT. Zacks Research upgraded Caterpillar from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 19th. Robert W. Baird set a $970.00 target price on shares of Caterpillar in a research report on Wednesday, August 5th. Sanford C. Bernstein reiterated a "market perform" rating and set a $1,002.00 price target on shares of Caterpillar in a research report on Wednesday, August 5th. Finally, Citigroup boosted their target price on Caterpillar from $1,020.00 to $1,100.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $995.52.

Caterpillar Stock Up 1.7%

NYSE:CAT opened at $813.51 on Friday. 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 capitalization of $373.95 billion, a price-to-earnings ratio of 35.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.60. The stock's fifty day moving average is $872.52 and its two-hundred day moving average is $838.46. Caterpillar Inc. has a 52 week low of $416.44 and a 52 week high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $6.22 by $1.95. The company had revenue of $20.54 billion during the quarter, compared to analysts' expectations of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The firm's revenue was up 23.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.72 EPS. Research analysts anticipate that Caterpillar Inc. will post 27.34 EPS for the current year.

Caterpillar Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, July 20th were paid a $1.63 dividend. This is an increase from Caterpillar's previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, July 20th. Caterpillar's payout ratio is presently 28.06%.

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: FieldAI partnership supports the automation outlook. Caterpillar is combining its construction-equipment expertise with FieldAI’s physical-AI technology to develop autonomous capabilities for machines and improve safety, productivity and visibility at jobsites. The initiative could create longer-term revenue opportunities in equipment, software and services. Caterpillar partners with FieldAI for equipment automation
• Positive Sentiment: Analyst and quantitative sentiment has improved. Zacks upgraded CAT to Rank #1, or “Strong Buy,” citing rising optimism about earnings prospects. Erste Group Bank also raised its fiscal 2026 EPS forecast, adding to the constructive outlook. Caterpillar upgraded to Strong Buy
• Positive Sentiment: AI infrastructure is boosting Power & Energy demand. Caterpillar’s retail sales to power-generation users reportedly surged 72% year over year in the second quarter, as data centers and generative-AI infrastructure increase demand for reliable power. This gives CAT an additional growth driver beyond traditional construction and mining markets. Can CAT Stock Compound Its Way Higher?
• Neutral Sentiment: Recent earnings performance remains a strength, but expectations are elevated. Caterpillar’s latest quarterly results exceeded consensus estimates for both earnings and revenue, with revenue up 23.7% year over year. A sector review described CAT as the strongest heavy-machinery performer, though investors are increasingly pricing in continued execution.
• Negative Sentiment: Valuation and performance concerns could limit upside. Commentary notes that CAT has outperformed peers in the stock market more than in underlying business performance, leaving the shares dependent on future growth. The stock has also declined since its latest earnings report, while a report tied the recent weakness to insider selling. CAT Has Left Its Peers Behind. Or Has It?

Insider Buying and Selling

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the sale, the chief executive officer directly owned 34,555 shares of the company's stock, valued at approximately $27,954,303.90. This represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.33% of the stock is owned by company insiders.

Caterpillar Profile

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.

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