Oregon Public Employees Retirement Fund Boosts Stake in Caterpillar Inc. $CAT

Key Points

• Oregon Public Employees Retirement Fund increased its Caterpillar stake by 6.2% in the second quarter, bringing its holdings to 56,630 shares worth approximately $60.3 million. Institutional investors collectively own nearly 71% of CAT.
• Caterpillar reported strong quarterly results, with earnings of $8.17 per share and revenue of $20.54 billion, beating analyst estimates and increasing revenue 23.7% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $995.52. Caterpillar also raised its quarterly dividend to $1.63 per share, although high volatility and potential weakness in AI data-center demand remain risks.

Oregon Public Employees Retirement Fund increased its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,630 shares of the industrial products company's stock after acquiring an additional 3,301 shares during the quarter. Caterpillar comprises 0.7% of Oregon Public Employees Retirement Fund's investment portfolio, making the stock its 23rd biggest position. Oregon Public Employees Retirement Fund's holdings in Caterpillar were worth $60,305,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Lam Group Inc. acquired a new position in shares of Caterpillar during the 1st quarter worth approximately $26,000. Torren Management LLC acquired a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its holdings in shares of Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 33 shares during the last quarter. Decker Retirement Planning Inc. lifted its position in Caterpillar by 440.0% during the second quarter. Decker Retirement Planning Inc. now owns 27 shares of the industrial products company's stock worth $29,000 after buying an additional 22 shares in the last quarter. Finally, Cornerstone Financial Management LLC acquired a new position in Caterpillar during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 70.98% of the company's stock.

Analyst Upgrades and Downgrades

CAT has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Caterpillar from $1,050.00 to $1,155.00 and gave the company an "overweight" rating in a report on Tuesday, June 23rd. Weiss Ratings raised shares of Caterpillar from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. Evercore reissued an "outperform" rating and issued a $1,103.00 price objective on shares of Caterpillar in a report on Monday, May 11th. JPMorgan Chase & Co. raised their price objective on shares of Caterpillar from $1,125.00 to $1,165.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 17th. Finally, Citigroup lifted their target price on shares of Caterpillar from $1,020.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. One investment 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $995.52.

Caterpillar Stock Performance

Shares of CAT stock opened at $828.90 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 1.37. The firm has a market cap of $381.02 billion, a P/E ratio of 35.67, a P/E/G ratio of 1.45 and a beta of 1.60. The firm's 50 day moving average price is $908.86 and its 200-day moving average price is $833.13. Caterpillar Inc. has a one year low of $410.52 and a one year high of $1,073.46.

Caterpillar (NYSE:CAT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate of $6.22 by $1.95. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The firm had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. During the same quarter last year, the firm earned $4.72 EPS. The firm's revenue for the quarter was up 23.7% on a year-over-year basis. As a group, equities research analysts predict that Caterpillar Inc. will post 27.14 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Monday, July 20th were issued a $1.63 dividend. The ex-dividend date was Monday, July 20th. This represents a $6.52 annualized dividend and a dividend yield of 0.8%. This is a boost from Caterpillar's previous quarterly dividend of $1.51. Caterpillar's dividend payout ratio (DPR) is presently 28.06%.

Caterpillar News Summary

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Higher full-year earnings forecasts: Zacks Research raised its FY2026 EPS estimate to $26.55 from $24.51 and its Q2 2027 estimate to $7.90 from $7.17. Zacks maintained a “Strong Buy” rating, signaling confidence in Caterpillar’s earnings trajectory. Zacks Research Forecasts Stronger Earnings for Caterpillar
• Positive Sentiment: $392 million tariff refund: Caterpillar received a significant refund as duty costs declined. The benefit partially offsets approximately $400 million in tariff expenses incurred during the quarter ended June 30 and could support near-term profitability and cash flow. Caterpillar bags $392M tariff refund as duty costs shrink
• Positive Sentiment: Constructive market backdrop: Expectations for continued S&P 500 strength, resilient earnings growth and potential AI-related capital spending are supportive for industrial companies such as Caterpillar. 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
• Neutral Sentiment: High volatility remains a trading risk: Options activity indicates Caterpillar’s stock could experience unusually large moves in either direction, increasing uncertainty despite favorable fundamental projections. Caterpillar Stock Is Priced To Swing Hundreds Of Dollars Either Way
• Negative Sentiment: AI data-center backlash: Proposed restrictions and political resistance to AI-related power demand in Texas and New York could delay or reduce data-center construction. That creates a risk for Caterpillar’s power-generation and related equipment demand, prompting investors to reassess the company’s growth outlook. What Is Caterpillar Facing As AI Data Center Backlash Grows?
• Negative Sentiment: Near-term estimate reduction: Zacks lowered its Q4 2026 EPS forecast to $6.47 from $6.61, suggesting some caution around the next quarterly results even though its full-year and longer-term estimates improved. Caterpillar analyst estimates

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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