Canandaigua National Bank & Trust Co. Trims Stock Position in Caterpillar Inc. $CAT

Canandaigua National Bank & Trust Co. reduced its position in shares of Caterpillar Inc. (NYSE:CAT) by 6.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,001 shares of the industrial products company’s stock after selling 952 shares during the quarter. Caterpillar comprises approximately 1.0% of Canandaigua National Bank & Trust Co.’s holdings, making the stock its 20th largest holding. Canandaigua National Bank & Trust Co.’s holdings in Caterpillar were worth $11,352,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CAT. BlackRock Inc. purchased a new position in shares of Caterpillar in the 2nd quarter worth $40,457,153,000. State Street Corp lifted its holdings in shares of Caterpillar by 4.0% in the 2nd quarter. State Street Corp now owns 36,276,960 shares of the industrial products company’s stock valued at $37,120,529,000 after acquiring an additional 1,396,356 shares during the last quarter. Bank of America Corp DE purchased a new position in Caterpillar in the second quarter worth about $5,818,150,000. Bank of New York Mellon Corp purchased a new position in Caterpillar in the second quarter worth about $3,192,710,000. Finally, Legal & General Group Plc bought a new stake in Caterpillar during the second quarter worth approximately $2,783,451,000. Institutional investors own 70.98% of the company’s stock.

Insider Transactions at Caterpillar

In other Caterpillar news, CEO Joseph E. Creed sold 32,401 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $808.98, for a total value of $26,211,760.98. Following the completion of the sale, the chief executive officer directly owned 34,555 shares of the company’s stock, valued at $27,954,303.90. The trade was a 48.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CAT has been the subject of several analyst reports. Royal Bank Of Canada raised their price objective on Caterpillar from $877.00 to $897.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company increased their price target 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 downgraded Caterpillar from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Needham & Company LLC set a $980.00 price objective on shares of Caterpillar in a research note on Thursday, September 10th. Finally, UBS Group increased their target price on shares of Caterpillar from $900.00 to $925.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $989.17.

Caterpillar News Roundup

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: North Carolina expansion supports long-term demand: Caterpillar announced a $1 billion investment to expand Cat Compact manufacturing capacity in North Carolina, focusing on automation, advanced manufacturing technology, digital systems and workforce development. The project signals confidence in customer demand and reinforces the company’s U.S. manufacturing strategy. Caterpillar Commits $1 Billion to Expand North Carolina Manufacturing
• Positive Sentiment: Analysts raised several future earnings estimates: Zacks Research increased its FY2026 EPS forecast to $27.36 from $27.01 and its FY2027 forecast to $32.44 from $31.43, while also lifting estimates for upcoming quarters through 2028. These revisions suggest expectations for continued earnings growth, although Zacks’ published rating was also reported as “Hold” in one update. Caterpillar Earnings Estimate Revisions
• Neutral Sentiment: Potential physical-AI and data-center opportunities: Caterpillar and CoreWeave are working to accelerate development of physical-AI applications. Separately, commentary from Jim Cramer highlighted Caterpillar’s potential role in supplying power-related equipment for data centers. These opportunities could create longer-term growth, but their financial impact is not yet quantified. Caterpillar and CoreWeave Physical AI Partnership
• Negative Sentiment: Higher interest rates are pressuring equipment demand: A sharp rise in long-term Treasury yields is weighing on manufacturers that sell expensive machinery financed through credit. Caterpillar was among the hardest-hit industrial names as investors reassessed the affordability of construction and agricultural equipment. Caterpillar Drops as Industrial Stocks Sell Off
• Negative Sentiment: Regulatory uncertainty continues: The Federal Trade Commission and Department of Agriculture are soliciting public information about the farm-equipment market. Investors are concerned that the review could eventually lead to tighter rules affecting equipment repairs, distribution or manufacturer practices. Caterpillar and Deere Face Continuing Regulatory Pressure
• Negative Sentiment: Valuation and rating concerns remain: With Caterpillar trading at a premium earnings multiple, investors may be less tolerant of macroeconomic or regulatory risks. Zacks Research also downgraded the stock from “Strong Buy” to “Hold,” adding to near-term caution. Caterpillar Stock Rating Cut to Hold

Caterpillar Trading Down 5.8%

CAT traded down $50.41 during trading hours on Wednesday, reaching $813.03. 3,336,613 shares of the company’s stock traded hands, compared to its average volume of 2,820,896. The firm has a 50-day moving average price of $822.22 and a 200 day moving average price of $852.27. The firm has a market capitalization of $373.73 billion, a PE ratio of 34.98, a PEG ratio of 1.47 and a beta of 1.58. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 1.65. Caterpillar Inc. has a 52-week low of $489.34 and a 52-week high of $1,073.46.

Caterpillar (NYSE:CAT) last released its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, topping the consensus estimate of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to the consensus estimate of $19.34 billion. Caterpillar had a return on equity of 55.53% and a net margin of 14.51%.The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period last year, the company earned $4.72 earnings per share. As a group, sell-side analysts predict that Caterpillar Inc. will post 27.42 EPS for the current fiscal year.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its products are used in infrastructure development, construction, mining, energy production, transportation, agriculture, forestry, and other industrial applications.

The company markets equipment and related services through a worldwide network of independent dealers. Its operations are generally organized around Construction Industries, Resource Industries, and Energy & Transportation.