Ethic Inc. Grows Stock Position in Caterpillar Inc. $CAT

Key Points

• Ethic Inc. increased its Caterpillar stake by 2.4% in the fourth quarter, bringing its holdings to 59,206 shares worth about $33.9 million and making CAT its 21st-largest position.
• Insider selling has been notable, with executives Rodney Michael Shurman and Jason Kaiser both selling large blocks of shares; insiders have sold 75,734 shares worth about $67.1 million over the last 90 days.
• Analysts and earnings trends remain broadly positive after Caterpillar beat quarterly EPS and revenue estimates, prompting several price-target hikes and leaving the stock with a consensus “Moderate Buy” rating and an average target of $890.27.

Ethic Inc. lifted its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 2.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 59,206 shares of the industrial products company's stock after acquiring an additional 1,382 shares during the period. Caterpillar makes up approximately 0.5% of Ethic Inc.'s investment portfolio, making the stock its 21st largest holding. Ethic Inc.'s holdings in Caterpillar were worth $33,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Caterpillar by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company's stock worth $26,572,681,000 after acquiring an additional 442,164 shares during the last quarter. Wellington Management Group LLP grew its stake in Caterpillar by 3,949.8% during the 3rd quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company's stock valued at $2,494,568,000 after purchasing an additional 5,098,964 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $1,695,757,000 after purchasing an additional 609,023 shares during the period. Legal & General Group Plc raised its stake in shares of 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 purchasing an additional 58,993 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Caterpillar by 24.3% during the third quarter. Amundi now owns 2,375,710 shares of the industrial products company's stock worth $1,176,870,000 after purchasing an additional 464,036 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Rodney Michael Shurman sold 5,639 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $903.18, for a total transaction of $5,093,032.02. Following the completion of the sale, the insider owned 2,546 shares of the company's stock, valued at $2,299,496.28. This represents a 68.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason Kaiser sold 5,642 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $883.03, for a total transaction of $4,982,055.26. Following the completion of the transaction, the insider directly owned 9,594 shares in the company, valued at approximately $8,471,789.82. This represents a 37.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,734 shares of company stock worth $67,054,613 in the last ninety days. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group reiterated a "neutral" rating and issued a $677.00 price target on shares of Caterpillar in a report on Monday, February 2nd. Morgan Stanley set a $915.00 price objective on shares of Caterpillar and gave the stock an "equal weight" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $860.00 to $1,125.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. HSBC upped their price target on shares of Caterpillar from $850.00 to $1,100.00 in a report on Tuesday. Finally, CICC Research started coverage on Caterpillar in a research note on Friday, February 6th. They set an "outperform" rating for the company. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $890.27.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar’s latest quarterly results were stronger than expected, with EPS and revenue both topping estimates and construction equipment revenue rising sharply, reinforcing the case for solid demand and backlog strength. Caterpillar Reports 38% Boost to Construction Equipment Revenue for Q1 2026
• Positive Sentiment: Several analysts raised price targets on CAT after the better-than-expected quarter, including Argus and HSBC, which is helping support bullish sentiment around the stock. Argus Raises Caterpillar Price Target HSBC Raises Caterpillar Price Target
• Positive Sentiment: Media coverage continues to frame Caterpillar as a beneficiary of AI and data-center power demand, broadening the company’s growth narrative beyond traditional construction and mining markets. Industrial-Strength Rally: Why Caterpillar Is Up 53%...
• Positive Sentiment: Recent commentary points to very long equipment lead times, which suggests sustained demand and potential pricing power ahead. Archrock reaffirms outlook as Caterpillar lead times near 160
• Positive Sentiment: Caterpillar also opened registration for a global innovation challenge, signaling continued investment in workforce development and technology, though this is more of a longer-term strategic positive than an immediate stock driver. Caterpillar Opens Registration for Global Innovation Challenge
• Neutral Sentiment: Some firms raised targets while keeping Neutral ratings, suggesting Wall Street sees upside, but also believes a lot of good news may already be reflected in the stock after its big run. DA Davidson Raises Caterpillar Target Following Better-Than-Expected Quarter
• Neutral Sentiment: Heavy media attention and elevated trading interest may be adding volatility, but these factors do not change Caterpillar’s underlying business fundamentals. Do Options Traders Know Something About Caterpillar Stock?
• Negative Sentiment: Multiple insiders, including the CFO, disclosed sizable stock sales, which can weigh on sentiment and raise concerns about whether the recent rally is prompting profit-taking. CFO insider sale SEC filing Insider sale (Shurman) SEC filing

Caterpillar Stock Performance

CAT opened at $896.14 on Friday. The company has a market cap of $412.75 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 1.80 and a beta of 1.63. The firm's fifty day simple moving average is $755.75 and its two-hundred day simple moving average is $664.91. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. Caterpillar Inc. has a 52-week low of $323.31 and a 52-week high of $931.35.

Caterpillar (NYSE:CAT - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share 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 firm had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the prior year, the firm earned $4.25 EPS. The company's revenue for the quarter was up 22.2% on a year-over-year basis. Equities analysts anticipate that Caterpillar Inc. will post 24.21 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently declared 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 dividend yield of 0.7%. The ex-dividend date is Monday, April 20th. Caterpillar's payout ratio is presently 30.06%.

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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