Swiss Life Asset Management Ltd Reduces Stock Position in Caterpillar Inc. $CAT

Key Points

• Swiss Life Asset Management trimmed its Caterpillar stake by 1.1% in the fourth quarter, but still held 178,797 shares valued at about $102.4 million at quarter-end.
• Caterpillar’s latest earnings beat expectations, with EPS of $5.54 and revenue of $17.42 billion both topping estimates; revenue rose 22.2% year over year, helped by a sharp increase in construction equipment sales.
• Wall Street sentiment remains bullish after the strong quarter, with several analysts lifting price targets, including HSBC raising its target to $1,100 and Citigroup to $1,020, while the stock has also seen notable insider selling.

Swiss Life Asset Management Ltd cut its holdings in shares of Caterpillar Inc. (NYSE:CAT - Free Report) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 178,797 shares of the industrial products company's stock after selling 2,015 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Caterpillar were worth $102,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund grew its stake in Caterpillar by 7.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company's stock worth $8,237,000 after buying an additional 1,181 shares during the last quarter. Caprock Group LLC bought a new position in Caterpillar during the 3rd quarter worth $8,893,000. ZEGA Investments LLC grew its stake in Caterpillar by 149.6% during the 3rd quarter. ZEGA Investments LLC now owns 4,184 shares of the industrial products company's stock worth $1,996,000 after buying an additional 2,508 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in Caterpillar by 2.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 165,677 shares of the industrial products company's stock worth $79,053,000 after buying an additional 4,010 shares during the last quarter. Finally, Juno Financial Group LLC bought a new position in Caterpillar during the 4th quarter worth $877,000. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines 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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CAT shares. HSBC upped their price objective on Caterpillar from $850.00 to $1,100.00 in a research note on Tuesday, May 5th. UBS Group reiterated a "neutral" rating and set a $677.00 price target on shares of Caterpillar in a research report on Monday, February 2nd. Oppenheimer set a $980.00 price target on Caterpillar and gave the stock an "outperform" rating in a research report on Friday, May 1st. Williams Trading set a $825.00 price target on Caterpillar in a research report on Tuesday, March 10th. Finally, Citigroup boosted their price target on Caterpillar from $905.00 to $1,020.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $890.27.

Caterpillar Trading Down 0.1%

Shares of Caterpillar stock opened at $896.14 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.35 and a debt-to-equity ratio of 1.64. The firm has a market cap of $412.75 billion, a price-to-earnings ratio of 44.61, a price-to-earnings-growth ratio of 1.80 and a beta of 1.63. The business has a fifty day simple moving average of $755.75 and a 200-day simple moving average of $664.91. Caterpillar Inc. has a fifty-two week low of $323.31 and a fifty-two week high of $931.35.

Caterpillar (NYSE:CAT - Get Free Report) last announced its earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.65 by $0.89. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The company had revenue of $17.42 billion for the quarter, compared to analyst estimates of $16.53 billion. During the same period in the previous year, the firm earned $4.25 earnings per share. Caterpillar's revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts forecast that Caterpillar Inc. will post 24.21 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Monday, April 20th will be issued 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 of this dividend is Monday, April 20th. Caterpillar's dividend payout ratio is currently 30.06%.

Insider Buying and Selling at Caterpillar

In other news, CFO Andrew R. J. Bonfield sold 15,674 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $918.71, for a total transaction of $14,399,860.54. Following the completion of the sale, the chief financial officer directly owned 52,935 shares of the company's stock, valued at $48,631,913.85. This represents a 22.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jason Kaiser sold 5,642 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $883.03, for a total value of $4,982,055.26. Following the sale, the insider directly owned 9,594 shares of the company's stock, valued at approximately $8,471,789.82. This represents a 37.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,734 shares of company stock valued at $67,054,613 over the last 90 days. 0.33% of the stock is owned by insiders.

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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