Caisse Des Depots ET Consignations Has $6.98 Million Stock Holdings in Caterpillar Inc. $CAT

Key Points

• Caisse Des Depots et Consignations raised its stake in Caterpillar by 127.9% in Q4 to 12,190 shares, valued at about $6.98 million.
• Caterpillar beat Q1 estimates (EPS $5.54 vs. $4.65; revenue $17.42B vs. $16.53B), sparking multiple analyst price-target increases and a MarketBeat consensus of “Moderate Buy” with an average target of $854.86.
• Despite strong demand and a growing AI-driven power backlog, management warned of $2.2–$2.4 billion in tariff costs for 2026 that could weigh on margins.

Caisse Des Depots ET Consignations boosted its stake in Caterpillar Inc. (NYSE:CAT - Free Report) by 127.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,190 shares of the industrial products company's stock after purchasing an additional 6,842 shares during the quarter. Caisse Des Depots ET Consignations' holdings in Caterpillar were worth $6,983,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Caterpillar by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company's stock valued at $26,572,681,000 after buying an additional 442,164 shares in the last quarter. Wellington Management Group LLP raised its position in Caterpillar by 3,949.8% in the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company's stock worth $2,494,568,000 after acquiring an additional 5,098,964 shares during the period. Bank of New York Mellon Corp raised its position in Caterpillar by 20.7% in the third quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company's stock worth $1,695,757,000 after acquiring an additional 609,023 shares during the period. Legal & General Group Plc raised its position in Caterpillar by 2.2% in the third quarter. Legal & General Group Plc now owns 2,802,068 shares of the industrial products company's stock worth $1,337,007,000 after acquiring an additional 58,993 shares during the period. Finally, Amundi raised its position in Caterpillar by 24.3% in the third quarter. Amundi now owns 2,375,710 shares of the industrial products company's stock worth $1,176,870,000 after acquiring an additional 464,036 shares during the period. 70.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAT has been the subject of several recent analyst reports. Daiwa Securities Group boosted their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the company a "neutral" rating in a research note on Friday. UBS Group reissued a "neutral" rating and issued a $677.00 price target on shares of Caterpillar in a research note on Monday, February 2nd. DA Davidson boosted their price target on shares of Caterpillar from $569.00 to $650.00 and gave the stock a "neutral" rating in a research note on Monday, February 2nd. HSBC boosted their price target on shares of Caterpillar from $660.00 to $850.00 and gave the stock a "buy" rating in a research note on Thursday, February 5th. Finally, Robert W. Baird upped their price objective on shares of Caterpillar from $940.00 to $1,165.00 and gave the company an "outperform" rating in a research note on Friday. Sixteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $854.86.

Caterpillar Stock Up 0.0%

Shares of NYSE CAT opened at $890.15 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.94 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 12 month low of $318.11 and a 12 month high of $905.00. The firm has a market capitalization of $414.18 billion, a PE ratio of 47.30, a price-to-earnings-growth ratio of 2.05 and a beta of 1.63. The firm has a fifty day simple moving average of $746.86 and a two-hundred day simple moving average of $655.04.

Caterpillar (NYSE:CAT - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The business had revenue of $17.42 billion during the quarter, compared to analyst estimates of $16.53 billion. During the same period in the prior year, the business earned $4.25 EPS. The company's revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts expect that Caterpillar Inc. will post 22.89 earnings per share for the current year.

Caterpillar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Monday, April 20th will be given 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 dividend payout ratio is 32.09%.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 972 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $764.20, for a total value of $742,802.40. Following the transaction, the chief accounting officer owned 824 shares in the company, valued at $629,700.80. This represents a 54.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph E. Creed sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $718.93, for a total transaction of $1,797,325.00. Following the completion of the transaction, the chief executive officer owned 35,083 shares in the company, valued at $25,222,221.19. This trade represents a 6.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 125,950 shares of company stock worth $88,577,390 in the last ninety days. 0.33% of the stock is currently owned by company insiders.

Key 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

Caterpillar Company 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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