State of New Jersey Common Pension Fund D Reduces Position in Caterpillar Inc. $CAT

State of New Jersey Common Pension Fund D decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,968 shares of the industrial products company’s stock after selling 4,709 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Caterpillar were worth $92,214,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund increased its stake in Caterpillar by 7.3% in the third quarter. Illinois Municipal Retirement Fund now owns 17,262 shares of the industrial products company’s stock worth $8,237,000 after purchasing an additional 1,181 shares during the period. Caprock Group LLC bought a new stake in Caterpillar during the 3rd quarter valued at $8,893,000. ZEGA Investments LLC raised its position in shares of Caterpillar by 149.6% in the 3rd quarter. ZEGA Investments LLC now owns 4,184 shares of the industrial products company’s stock worth $1,996,000 after acquiring an additional 2,508 shares in the last quarter. Juno Financial Group LLC purchased a new position in Caterpillar in the fourth quarter valued at about $877,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Caterpillar by 3.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 73,363 shares of the industrial products company’s stock valued at $35,023,000 after buying an additional 2,565 shares during the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar Stock Performance

Shares of NYSE:CAT opened at $854.88 on Thursday. The firm has a market capitalization of $397.77 billion, a PE ratio of 43.05, a P/E/G ratio of 1.91 and a beta of 1.52. Caterpillar Inc. has a 1 year low of $302.17 and a 1 year high of $845.27. The business’s 50 day moving average price is $744.25 and its 200-day moving average price is $653.39. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.44 and a quick ratio of 0.94.

Caterpillar (NYSE:CAT) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $5.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.57 by $0.97. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The business had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $16.43 billion. During the same period last year, the firm earned $4.25 earnings per share. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, equities research analysts expect that Caterpillar Inc. will post 22.89 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Monday, April 20th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, April 20th. Caterpillar’s dividend payout ratio is currently 32.09%.

Trending Headlines about Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Q1 results: Caterpillar beat estimates — adjusted EPS $5.54 vs. $4.57 expected and revenue of ~$17.4B (up ~22% Y/Y). Strong margins, 45.8% ROE and robust cash returns (share repurchases/dividends of $5.7B) support earnings quality and shareholder returns. Caterpillar Reports First-Quarter 2026 Results
• Positive Sentiment: Energy/power growth: Caterpillar struck a framework agreement with ProPetro’s PROPWR to supply up to 2.1 GW of power generation assets for data centers, oil & gas and industrial customers — a boost to the Power Systems segment and recurring aftermarket opportunities. PROPWR Secures Strategic Framework Agreement with Caterpillar Inc.
• Positive Sentiment: Analyst support: Bank of America raised its price target on CAT and reiterated a Buy, citing broadening equipment demand recovery; continued analyst upgrades help underpin longer‑term sentiment. Bank of America Sees Caterpillar Benefiting From Broadening Equipment Demand Recovery
• Neutral Sentiment: Minor estimate tweaks: Erste Group nudged FY2026/27 EPS estimates slightly higher — a modest incremental validation of the beat but not a large guidance shift. MarketBeat Analyst Note
• Neutral Sentiment: Pre‑earnings coverage framed CAT as a mixed case: rising revenue and EPS but with factors to watch; these previews set expectations ahead of the print. Caterpillar Q1 earnings preview
• Negative Sentiment: Valuation and cost concerns: Analysts and previews flagged a premium valuation after a strong YTD run and noted higher costs could pressure margins; that likely explains some profit‑taking despite the beat. Caterpillar is Set to Report Q1 Earnings: Buy, Sell or Hold the Stock?

Insider Activity

In related news, insider Rodney Michael Shurman sold 2,278 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $759.61, for a total transaction of $1,730,391.58. Following the completion of the transaction, the insider directly owned 1,443 shares of the company’s stock, valued at $1,096,117.23. This represents a 61.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anthony D. Fassino sold 10,671 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $680.45, for a total value of $7,261,081.95. Following the transaction, the insider directly owned 41,151 shares in the company, valued at $28,001,197.95. This represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 125,950 shares of company stock worth $88,577,390 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CAT shares. Wells Fargo & Company boosted their target price on shares of Caterpillar from $870.00 to $960.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. CICC Research assumed coverage on Caterpillar in a research report on Friday, February 6th. They set an “outperform” rating for the company. Citigroup increased their price objective on Caterpillar from $785.00 to $905.00 and gave the company a “buy” rating in a report on Monday, April 13th. Rothschild & Co Redburn upped their target price on Caterpillar from $650.00 to $700.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Finally, Robert W. Baird lifted their price objective on shares of Caterpillar from $805.00 to $940.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Sixteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $767.77.

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.