Caterpillar Inc. $CAT Stock Position Raised by Fisher Asset Management LLC

Key Points

• Fisher Asset Management LLC modestly increased its stake in Caterpillar by 0.2% in Q3 to 9,439,197 shares, representing about 2.02% of the company (~$4.5 billion) and making CAT its 12th largest holding.
• Company insiders sold a total of 133,450 shares (~$92.53 million) in the last quarter—including large sales by Denise C. Johnson and Anthony D. Fassino—bringing insider ownership down to 0.33%.
• Caterpillar beat quarterly expectations (EPS $5.16 vs. $4.67 estimate; revenue $19.13B vs. $17.81B) and multiple analysts have raised price targets (e.g., Wells Fargo to $870, HSBC to $850), signaling bullish sentiment despite recent short-interest and market volatility.

Fisher Asset Management LLC lifted its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,439,197 shares of the industrial products company's stock after buying an additional 20,876 shares during the quarter. Caterpillar comprises 1.6% of Fisher Asset Management LLC's investment portfolio, making the stock its 12th largest holding. Fisher Asset Management LLC owned 2.02% of Caterpillar worth $4,503,913,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Caterpillar during the 2nd quarter valued at $2,165,899,000. Massachusetts Financial Services Co. MA boosted its holdings in Caterpillar by 1,851.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company's stock worth $873,382,000 after purchasing an additional 1,736,631 shares in the last quarter. Marshall Wace LLP increased its position in Caterpillar by 425.2% during the second quarter. Marshall Wace LLP now owns 761,800 shares of the industrial products company's stock worth $295,738,000 after buying an additional 616,739 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Caterpillar by 20.7% during the third quarter. Bank of New York Mellon Corp now owns 3,553,930 shares of the industrial products company's stock valued at $1,695,757,000 after buying an additional 609,023 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of Caterpillar by 36.9% in the third quarter. Voya Investment Management LLC now owns 1,777,589 shares of the industrial products company's stock worth $848,177,000 after buying an additional 478,972 shares during the last quarter. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Caterpillar

In other Caterpillar news, insider Denise C. Johnson sold 39,138 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the sale, the insider directly owned 43,350 shares in the company, valued at approximately $29,524,818. This trade represents a 47.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony D. Fassino sold 7,891 shares of the company's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $776.90, for a total transaction of $6,130,517.90. Following the completion of the transaction, the insider owned 46,643 shares of the company's stock, valued at $36,236,946.70. This trade represents a 14.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 133,450 shares of company stock worth $92,530,665 in the last quarter. Company insiders own 0.33% of the company's stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $742.53 on Monday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $789.81. 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 stock has a market capitalization of $345.49 billion, a P/E ratio of 39.45, a P/E/G ratio of 1.76 and a beta of 1.53. The business has a 50-day moving average price of $667.81 and a two-hundred day moving average price of $565.67.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.49. The company had revenue of $19.13 billion during the quarter, compared to analyst estimates of $17.81 billion. Caterpillar had a net margin of 13.14% and a return on equity of 45.76%. The firm's revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.14 EPS. Equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current year.

Caterpillar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, January 20th. Caterpillar's payout ratio is 32.09%.

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Wells Fargo raised its price target to $870, citing continued momentum and demand drivers that support higher valuations for CAT. Wells Fargo Raises Caterpillar NYSE: CAT Price Target to $870.00
• Positive Sentiment: Daiwa Securities also lifted its price target to $790, adding to analyst bullishness and reinforcing upside expectations from peers. Daiwa Securities Group Raises Caterpillar NYSE: CAT Price Target to $790.00
• Positive Sentiment: Market commentary highlights CAT as a beneficiary of AI-related capex (data center construction) and sustained infrastructure/mining demand — a thematic tailwind supporting long-term revenue and equipment replacement cycles. Does Caterpillar’s AI Power Deal And Record Results Redefine The Bull Case For CAT?
• Positive Sentiment: High-profile investors/commentators (Jim Cramer) and strategists are publicly backing CAT as a “hard asset” play tied to construction and AI-related buildout, bolstering retail/institutional interest. Jim Cramer on Caterpillar: “We Like Their Stuff”
• Neutral Sentiment: Research reports forecast solid market expansion in mining trucks, rock drilling and tunneling equipment through 2030, identifying CAT as a key market leader — supportive for long-term demand but not an immediate catalyst. Mining Truck Industry Report 2026-2035
• Neutral Sentiment: Corporate activity: CAT hosted its Global Technician Finals and is rolling out a redesigned rental management experience; these operational initiatives improve service/aftermarket positioning but are incremental. Caterpillar hosts its Global Technician Finals in Peoria
• Neutral Sentiment: Caterpillar and BST invested in ElevenEs (electrification/technology), a strategic move toward EV/efficiency solutions that supports medium-term product mix shifts. Caterpillar and BST invest in ElevenEs
• Negative Sentiment: Today’s share weakness is partly tied to broader market pressure: the Dow fell with losses in Nvidia and Caterpillar cited among decliners, which knocked CAT lower. Dow's 131-point fall led by losses in NVIDIA Corp., Caterpillar shares
• Negative Sentiment: Short interest rose sharply in February (≈61% month-over-month growth to ~10M shares), indicating increased bearish positioning that can amplify near-term downside volatility.

Analyst Ratings Changes

CAT has been the topic of a number of recent analyst reports. Raymond James Financial reissued a "market perform" rating on shares of Caterpillar in a research note on Wednesday, January 7th. HSBC boosted their target price 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. UBS Group reaffirmed a "neutral" rating and issued a $677.00 price target on shares of Caterpillar in a research report on Monday, February 2nd. Bank of America increased their target price on Caterpillar from $735.00 to $825.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Finally, Wells Fargo & Company upped their price objective on Caterpillar from $756.00 to $870.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $712.52.

About Caterpillar

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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