Cullinan Associates Inc. Reduces Position in Caterpillar Inc. $CAT

Key Points

• Cullinan Associates reduced its Caterpillar position by 9.9% in the second quarter, selling 1,665 shares and retaining 15,128 shares valued at approximately $16.1 million.
• Institutional ownership remains substantial at 70.98%, although Caterpillar CEO Joseph Creed sold 32,401 shares for about $26.2 million, reducing his position by 48.39%.
• Caterpillar reported strong quarterly results, with EPS of $8.17 exceeding estimates and revenue rising 23.7% year over year. Analysts maintain a “Moderate Buy” consensus, but the stock’s elevated valuation and potential interest-rate pressure remain risks.

Cullinan Associates Inc. decreased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 9.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,128 shares of the industrial products company's stock after selling 1,665 shares during the quarter. Caterpillar accounts for about 1.2% of Cullinan Associates Inc.'s investment portfolio, making the stock its 23rd biggest position. Cullinan Associates Inc.'s holdings in Caterpillar were worth $16,110,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAT. Hollencrest Capital Management increased its stake in Caterpillar by 260.8% in the second quarter. Hollencrest Capital Management now owns 4,929 shares of the industrial products company's stock worth $5,249,000 after purchasing an additional 3,563 shares during the period. Greenleaf Trust boosted its stake in shares of Caterpillar by 2.8% during the second quarter. Greenleaf Trust now owns 16,415 shares of the industrial products company's stock valued at $17,480,000 after purchasing an additional 454 shares during the period. Marvin & Palmer Associates Inc. grew its holdings in shares of Caterpillar by 77.6% in the second quarter. Marvin & Palmer Associates Inc. now owns 9,362 shares of the industrial products company's stock worth $9,970,000 after purchasing an additional 4,092 shares during the last quarter. Capital Advisors Inc. OK increased its stake in Caterpillar by 5.6% in the 2nd quarter. Capital Advisors Inc. OK now owns 4,618 shares of the industrial products company's stock worth $4,917,000 after buying an additional 244 shares during the period. Finally, Trustmark Bank Trust Department lifted its holdings in Caterpillar by 1.7% during the 2nd quarter. Trustmark Bank Trust Department now owns 2,854 shares of the industrial products company's stock valued at $3,039,000 after buying an additional 47 shares in the last quarter. 70.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Caterpillar

In related news, CEO Joseph E. Creed sold 32,401 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $808.98, for a total transaction of $26,211,760.98. Following the completion of the transaction, the chief executive officer owned 34,555 shares in the company, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company's stock.

Key Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Analysts raised earnings estimates across multiple periods. Zacks Research increased its forecasts for Q3 2026, FY2026, FY2027, Q1–Q4 2027, Q2 2028 and FY2028. Its FY2027 estimate rose to $31.43 per share from $30.14, while its FY2028 forecast increased to $36.64 from $35.97. Zacks maintained a “Strong Buy” rating. MarketBeat Caterpillar analyst estimates
• Positive Sentiment: AI and automation remain a growth catalyst. Caterpillar’s collaboration with FieldAI is intended to advance physical AI, autonomous equipment and robotics, potentially improving customer safety and efficiency while creating new technology-driven revenue opportunities. Caterpillar FieldAI partnership
• Positive Sentiment: Industrial and manufacturing trends support demand. Lean inventories and continued U.S. production growth are cited as reasons Caterpillar remains attractive among industrial stocks. Piper Sandler also identifies Caterpillar as a potential beneficiary of a rotation from high-priced AI leaders toward industrial companies. U.S. manufacturing growth stocks
• Neutral Sentiment: CAT has significantly outperformed over the past year. Coverage highlights a record backlog, strong earnings and an improved 2026 outlook, but compares Caterpillar’s performance with other industrial-product companies rather than providing a new company-specific catalyst. Caterpillar buy sell or hold analysis
• Negative Sentiment: Valuation and interest-rate risks remain concerns. CAT trades at a high earnings multiple after its substantial rally. Piper Sandler cautions that a move in the 10-year Treasury yield above roughly 4.80% could challenge the industrial-rotation thesis and pressure rate-sensitive valuations. Piper Sandler industrial stocks and Treasury yields

Caterpillar Stock Down 0.7%

Caterpillar stock opened at $816.41 on Thursday. 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 firm has a market cap of $375.28 billion, a P/E ratio of 35.13, a P/E/G ratio of 1.43 and a beta of 1.60. The business has a fifty day moving average of $859.73 and a two-hundred day moving average of $840.13. Caterpillar Inc. has a twelve month low of $419.50 and a twelve month high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $6.22 by $1.95. The firm had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business's revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.72 EPS. On average, analysts forecast that Caterpillar Inc. will post 27.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Caterpillar from $877.00 to $897.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Rothschild & Co Redburn lifted their price target on shares of Caterpillar from $700.00 to $950.00 and gave the company a "neutral" rating in a research note on Thursday, May 14th. DA Davidson boosted their price target on Caterpillar from $845.00 to $882.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. UBS Group raised their price objective on Caterpillar from $900.00 to $925.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and set a $1,002.00 target price on shares of Caterpillar in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Caterpillar currently has an average rating of "Moderate Buy" and an average target price of $995.52.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction, mining, and industrial equipment. The company's products include excavators, dozers, wheel loaders, motor graders, articulated trucks, and off-highway trucks, as well as related attachments and work tools. Caterpillar also supplies replacement parts, equipment services, technology solutions, and rental support through its dealer network.

The company serves customers in construction, mining, quarrying, energy, transportation, forestry, agriculture, and government-related industries.

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