Arizona State Retirement System Sells 2,391 Shares of Caterpillar Inc. $CAT

Arizona State Retirement System trimmed its position in Caterpillar Inc. (NYSE:CAT) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 137,328 shares of the industrial products company’s stock after selling 2,391 shares during the quarter. Arizona State Retirement System’s holdings in Caterpillar were worth $65,526,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Caterpillar during the second quarter valued at about $2,165,899,000. Groupe la Francaise grew its holdings in shares of Caterpillar by 82.0% during the 2nd quarter. Groupe la Francaise now owns 27,246 shares of the industrial products company’s stock worth $10,820,000 after acquiring an additional 12,278 shares during the period. Union Bancaire Privee UBP SA raised its position in shares of Caterpillar by 155.9% in the 3rd quarter. Union Bancaire Privee UBP SA now owns 47,231 shares of the industrial products company’s stock worth $21,014,000 after acquiring an additional 28,773 shares in the last quarter. Palmer Knight Co purchased a new position in shares of Caterpillar in the 2nd quarter valued at approximately $5,884,000. Finally, ZEGA Investments LLC boosted its position in shares of Caterpillar by 149.6% during the third quarter. ZEGA Investments LLC now owns 4,184 shares of the industrial products company’s stock valued at $1,996,000 after purchasing an additional 2,508 shares in the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, insider Jason Kaiser sold 10,707 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $563.60, for a total transaction of $6,034,465.20. Following the completion of the sale, the insider owned 8,649 shares of the company’s stock, valued at $4,874,576.40. This represents a 55.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Maclennan acquired 300 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average cost of $568.86 per share, for a total transaction of $170,658.00. Following the acquisition, the director owned 7,947 shares of the company’s stock, valued at $4,520,730.42. The trade was a 3.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 54,729 shares of company stock valued at $31,084,308 over the last ninety days. 0.33% of the stock is owned by insiders.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Q4 earnings beat and record revenue — Caterpillar reported adjusted EPS of $5.16 and $19.13B in revenue, beating consensus and showing year-over-year top-line strength that supports valuation and buyback plans. Caterpillar Reports Fourth-Quarter and Full-Year 2025 Results
• Positive Sentiment: AI/data-center demand is boosting power equipment sales — multiple reports note that rapid data-center buildouts (AI workloads) are lifting demand for Caterpillar’s power-generation equipment, turning some orders into long-lived infrastructure rather than short-cycle construction revenue. This Construction Giant’s Stock Led the Dow Over the Past Year. It’s Gotten a Boost From AI
• Positive Sentiment: Strategic order for hyperscale AI power — Caterpillar joined a partnership to supply 2 GW of fast-response gas generator sets for the Monarch Compute Campus, a multi‑year, high-reliability power project that supports recurring, long-duration revenue. American Intelligence & Power Forms Strategic Alliance with Caterpillar and Boyd CAT to Deploy 2 Gigawatts of Dedicated Power for Hyperscale AI Infrastructure
• Positive Sentiment: Strong cash flow and capital return — FY2025 enterprise operating cash flow remained robust and the company deployed roughly $7.9B for buybacks and dividends, supporting EPS and shareholder returns. Caterpillar Reports Fourth-Quarter and Full-Year 2025 Results
• Neutral Sentiment: Earnings call details and management commentary — The full Q4 2025 earnings call transcript provides color on geographic capex trends, margin drivers and service mix for investors doing a deeper read. Caterpillar Inc. (CAT) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Analyst commentary and previews — Coverage ahead of and after the print emphasizes power & energy as the key catalyst while noting investment and margin questions remain. Caterpillar Earnings Are Coming. The Bar Is High, Thanks to AI.
• Negative Sentiment: Tariff headwind — Management warned of an estimated ~$2.6B impact from tariffs in 2026, which the company says will pressure margins and could offset some revenue gains unless mitigated. Caterpillar flags $2.6 billion tariff hit in 2026, power equipment demand lifts quarter
• Negative Sentiment: Tariffs already squeezing margins — Several outlets highlight that higher tariffs and related costs reduced profit margins in the quarter despite top-line strength. Caterpillar Says Higher Tariffs Impacted Profit Margins

Caterpillar Stock Performance

Shares of NYSE CAT opened at $663.92 on Friday. The firm’s 50-day moving average price is $602.18 and its 200-day moving average price is $517.31. Caterpillar Inc. has a 52-week low of $267.30 and a 52-week high of $679.99. The company has a market cap of $310.70 billion, a PE ratio of 34.08, a PEG ratio of 2.48 and a beta of 1.57. The company has a quick ratio of 0.86, a current ratio of 1.38 and a debt-to-equity ratio of 1.34.

Caterpillar (NYSE:CAT) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. The company had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the firm earned $5.14 earnings per share. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Tuesday, January 20th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, January 20th. Caterpillar’s dividend payout ratio (DPR) is 31.01%.

Wall Street Analyst Weigh In

Several brokerages have commented on CAT. Robert W. Baird raised their price objective on Caterpillar from $612.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Caterpillar in a research report on Monday, December 29th. Evercore ISI raised their target price on shares of Caterpillar from $476.00 to $630.00 and gave the company an “outperform” rating in a research note on Monday, November 17th. Jefferies Financial Group boosted their price target on Caterpillar from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wolfe Research upped their price target on Caterpillar from $470.00 to $670.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $640.20.

About Caterpillar

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.