DAVENPORT & Co LLC Has $46.13 Million Stock Position in Caterpillar Inc. $CAT

Key Points

• DAVENPORT & Co LLC reduced its Caterpillar stake by 2.7% in the second quarter, selling 1,195 shares and retaining 43,321 shares valued at approximately $46.13 million. Institutional investors own about 70.98% of CAT.
• Caterpillar delivered a strong quarter, reporting $8.17 in EPS and $20.54 billion in revenue, exceeding analyst estimates and marking 23.7% year-over-year revenue growth. The company also raised its quarterly dividend to $1.63 per share, or $6.52 annualized.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $995.52, but Caterpillar’s premium valuation and execution risk could limit near-term upside.

DAVENPORT & Co LLC cut its position in Caterpillar Inc. (NYSE:CAT - Free Report) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,321 shares of the industrial products company's stock after selling 1,195 shares during the period. DAVENPORT & Co LLC's holdings in Caterpillar were worth $46,133,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CAT. Axxcess Wealth Management LLC boosted its position in shares of Caterpillar by 2.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 22,420 shares of the industrial products company's stock worth $12,844,000 after acquiring an additional 604 shares in the last quarter. Juno Financial Group LLC purchased a new stake in Caterpillar during the fourth quarter worth approximately $877,000. DSG Capital Advisors LLC acquired a new position in Caterpillar in the first quarter valued at approximately $1,226,000. Cornerstone Planning LLC purchased a new position in Caterpillar in the fourth quarter valued at approximately $4,517,000. Finally, Ticino Wealth purchased a new position in Caterpillar in the fourth quarter valued at approximately $2,488,000. 70.98% of the stock is owned by institutional investors.

Caterpillar Price Performance

Shares of NYSE CAT opened at $857.35 on Thursday. The stock has a fifty day moving average price of $917.75 and a 200 day moving average price of $824.70. Caterpillar Inc. has a 1-year low of $405.46 and a 1-year high of $1,073.46. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.37 and a quick ratio of 0.85. The company has a market cap of $394.10 billion, a PE ratio of 36.89, a P/E/G ratio of 1.51 and a beta of 1.60.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The industrial products company reported $8.17 EPS for the quarter, topping analysts' consensus estimates of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter in the prior year, the firm earned $4.72 EPS. Caterpillar's quarterly revenue was up 23.7% on a year-over-year basis. Sell-side analysts forecast that Caterpillar Inc. will post 26.56 EPS for the current year.

Caterpillar Increases Dividend

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

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Record quarterly performance: Caterpillar reported approximately $20.5 billion in second-quarter sales and revenue, with stronger operating profit and margins. The results reinforce expectations for continued earnings growth. Caterpillar Marks Record Quarter with $20.5B in Sales and Revenues
• Positive Sentiment: Large backlog and raised outlook: A roughly $72 billion backlog and an increased 2026 outlook provide revenue visibility and strengthen the bullish case following the earnings release. The Zacks Analyst Blog Highlights Caterpillar, Komatsu, Terex and Astec Industries
• Positive Sentiment: AI and power demand: Analysts and bullish commentary point to demand for Caterpillar’s engines, turbines and heavy equipment from data-center construction and related power infrastructure. Much of the company’s large-engine capacity is booked years ahead. Bull of the Day: Caterpillar
• Positive Sentiment: Momentum and earnings revisions: Caterpillar was identified as a top momentum pick, while Erste Group raised its fiscal 2026 EPS estimate to $24.78 and fiscal 2027 estimate to $31.18. These revisions indicate improving profit expectations, although the bank maintains a Hold rating. Western Digital & 2 Momentum Stocks That Could Soar in 2026
• Neutral Sentiment: Execution is now key: With demand and orders strong, future upside depends on how quickly Caterpillar can expand production at its existing plants without weakening margins. Caterpillar Stock's Upside Is Sitting in Plants It Already Owns
• Negative Sentiment: Premium valuation: After a substantial five-year rally, valuation measures suggest CAT may be about 6% overvalued. Investors may already be pricing in much of the AI-related demand and earnings optimism, limiting near-term upside. Caterpillar Stock Could Be 6% Overvalued As AI Demand Lifts Outlook

Analysts Set New Price Targets

Several analysts have recently weighed in on CAT shares. UBS Group boosted their price objective on shares of Caterpillar from $900.00 to $925.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Barclays lifted their price target on shares of Caterpillar from $800.00 to $900.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 6th. Citigroup boosted their price target on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Argus raised their price objective on Caterpillar from $820.00 to $990.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, Wells Fargo & Company lifted their target price on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 23rd. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently 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 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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