State of Michigan Retirement System Trims Position in Caterpillar Inc. $CAT

State of Michigan Retirement System decreased its stake in shares of Caterpillar Inc. (NYSE:CAT) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,572 shares of the industrial products company’s stock after selling 900 shares during the quarter. State of Michigan Retirement System’s holdings in Caterpillar were worth $91,797,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Lam Group Inc. purchased a new position in shares of Caterpillar during the first quarter worth approximately $26,000. Torren Management LLC purchased a new stake in shares of Caterpillar in the fourth quarter valued at approximately $27,000. Frazier Financial Advisors LLC grew its stake in Caterpillar by 220.0% in the fourth quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 33 shares in the last quarter. IFS Advisors LLC purchased a new position in Caterpillar during the 4th quarter worth $31,000. Finally, Rialto Wealth Management LLC increased its holdings in Caterpillar by 47.4% during the 4th quarter. Rialto Wealth Management LLC now owns 56 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 18 shares during the period. 70.98% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar’s Construction Industries segment is showing strong momentum, with Q1 2026 sales up 38% year over year. That performance is helping support the case for sustained growth in one of CAT’s most important businesses. Can CAT’s Construction Industries Segment Deliver Sustained Growth?
• Positive Sentiment: The company is also leaning more heavily into recurring revenue through digital tools, equipment rental, and technology-driven services, which could improve earnings visibility and support its 2030 growth goals. Caterpillar (CAT) Bets On Recurring Revenue After 38% Construction Sales Surge
• Positive Sentiment: Brokerage coverage remains constructive, with Caterpillar receiving a consensus “Moderate Buy” rating, reinforcing investor confidence in the stock’s longer-term fundamentals. Caterpillar Inc. (NYSE:CAT) Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Neutral Sentiment: Several comparison and “stocks to watch” articles mention Caterpillar alongside other industrial and construction names, which adds visibility but does not itself change the company’s fundamentals. Caterpillar vs. Oshkosh: Which Industrials Stock Is a Better Buy in 2026?
• Neutral Sentiment: An article highlighting Caterpillar as a potential beneficiary of Federal Reserve pivot expectations points to macro-rate optimism, but the impact is indirect and mostly sentiment-driven. 5 Best Stocks to Buy Following Federal Reserve Pivot Expectations

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Caterpillar from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. DA Davidson raised their price target on Caterpillar from $650.00 to $845.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. Citigroup lifted their price objective on Caterpillar from $905.00 to $1,020.00 and gave the company a “buy” rating in a report on Friday, May 1st. Daiwa Securities Group upped their price objective on shares of Caterpillar from $790.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Caterpillar from a “hold” rating to a “strong-buy” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and an average price target of $976.76.

Caterpillar Stock Down 2.1%

Shares of NYSE CAT opened at $932.41 on Tuesday. Caterpillar Inc. has a 12-month low of $402.23 and a 12-month high of $1,073.46. The stock’s fifty day simple moving average is $931.66 and its two-hundred day simple moving average is $785.96. The stock has a market capitalization of $429.46 billion, a PE ratio of 46.41, a price-to-earnings-growth ratio of 1.88 and a beta of 1.57. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.65 by $0.89. The firm had revenue of $17.41 billion during the quarter, compared to analyst estimates of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The business’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.25 EPS. As a group, analysts expect that Caterpillar Inc. will post 24.71 EPS for the current fiscal year.

Caterpillar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Monday, July 20th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.7%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s payout ratio is presently 30.06%.

Insiders Place Their Bets

In other Caterpillar news, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the sale, the insider directly owned 46,041 shares of the company’s stock, valued at approximately $42,210,388.80. This represents a 26.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Denise C. Johnson sold 12,605 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $907.91, for a total transaction of $11,444,205.55. Following the completion of the sale, the insider owned 49,825 shares in the company, valued at $45,236,615.75. This represents a 20.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,773 shares of company stock valued at $87,642,635 in the last three months. 0.33% of the stock is currently 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.