Caterpillar (NYSE:CAT) Price Target Raised to $1,020.00 at Citigroup

Caterpillar (NYSE:CAT) had its target price boosted by Citigroup from $905.00 to $1,020.00 in a research note released on Friday morning,MarketScreener reports. The firm currently has a buy rating on the industrial products company’s stock.

CAT has been the subject of several other research reports. Robert W. Baird upped their price target on shares of Caterpillar from $805.00 to $940.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Rothschild & Co Redburn upped their price target on shares of Caterpillar from $650.00 to $700.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Argus increased their price objective on shares of Caterpillar from $625.00 to $820.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Truist Financial increased their price objective on shares of Caterpillar from $786.00 to $920.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Wells Fargo & Company increased their price objective on shares of Caterpillar from $870.00 to $960.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $862.32.

Caterpillar Price Performance

Shares of CAT traded up $0.04 during mid-day trading on Friday, hitting $890.15. 2,374,713 shares of the company were exchanged, compared to its average volume of 2,181,138. Caterpillar has a 1-year low of $318.11 and a 1-year high of $905.00. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.94 and a current ratio of 1.35. The company has a 50 day moving average of $746.86 and a 200-day moving average of $655.04. The stock has a market cap of $414.18 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 2.05 and a beta of 1.63.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, topping the consensus estimate of $4.65 by $0.89. Caterpillar had a net margin of 13.33% and a return on equity of 48.21%. The firm had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $16.53 billion. During the same quarter in the prior year, the firm earned $4.25 EPS. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. Analysts expect that Caterpillar will post 22.89 EPS for the current fiscal year.

Caterpillar Announces Dividend

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

Insiders Place Their Bets

In other news, insider Anthony D. Fassino sold 7,891 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $776.90, for a total value of $6,130,517.90. Following the completion of the sale, the insider owned 46,643 shares of the company’s stock, valued at $36,236,946.70. This represents a 14.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO William E. Schaupp sold 972 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $764.20, for a total transaction of $742,802.40. Following the completion of the sale, the chief accounting officer directly owned 824 shares of the company’s stock, valued at approximately $629,700.80. This trade represents a 54.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 125,950 shares of company stock worth $88,577,390. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Caterpillar

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Caterpillar by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 46,385,185 shares of the industrial products company’s stock worth $26,572,681,000 after purchasing an additional 442,164 shares during the period. State Street Corp boosted its position in shares of Caterpillar by 1.1% during the 4th quarter. State Street Corp now owns 35,388,550 shares of the industrial products company’s stock worth $20,273,039,000 after purchasing an additional 385,204 shares during the period. Geode Capital Management LLC boosted its position in shares of Caterpillar by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 10,610,182 shares of the industrial products company’s stock worth $6,072,572,000 after purchasing an additional 94,524 shares during the period. Fisher Asset Management LLC boosted its position in shares of Caterpillar by 0.6% during the 4th quarter. Fisher Asset Management LLC now owns 9,493,266 shares of the industrial products company’s stock worth $5,438,408,000 after purchasing an additional 54,069 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Caterpillar by 16.0% during the 4th quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock worth $3,860,457,000 after purchasing an additional 928,974 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

More Caterpillar News

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Caterpillar beat Q1 revenue and EPS expectations and reported a record backlog, driven by higher volume and pricing across construction and power systems — a core reason the stock rallied after earnings. Caterpillar expects AI-driven demand for power, construction to fuel growth — Reuters
• Positive Sentiment: Analysts sharply raised price targets and upgraded ratings (JPMorgan, Jefferies, Wells Fargo, Baird, Citigroup, Morgan Stanley among others), signaling renewed street confidence and creating upward momentum for the stock. Morgan Stanley Doubles Price Target to $915 — 247WallSt
• Positive Sentiment: Demand tied to AI/data-center buildouts is boosting Cat’s power and energy backlog; management is raising 2030 targets and plans to roughly triple power-generation capacity, which supports a multi-year growth runway beyond cyclical construction. Caterpillar to triple power generation capacity — Yahoo Finance
• Positive Sentiment: Market narrative has shifted: short interest and skeptical bears are receding as the AI-power story gains traction, amplifying upside as skeptics fold. Caterpillar’s biggest bear folds as AI power demand soars — Mining.com
• Positive Sentiment: Strategic partnerships (e.g., framework with ProPetro’s PROPWR) and large supply agreements for data-center and industrial power strengthen the revenue mix in higher-margin power systems. Caterpillar taps PROPWR and data centers — Yahoo Finance
• Neutral Sentiment: Technical momentum is strong (IBD composite rating surged toward the top of the universe) and the company announced a virtual annual shareholder meeting; these are market-interest and governance items rather than direct catalysts. IBD Composite Rating Surges — Yahoo/IBD
• Negative Sentiment: Management warned of significant tariff costs for 2026 — a $2.2B–$2.4B range — that will pressure margins and partially offset revenue strength; investors should watch margin trends and any changes to the tariff outlook. Caterpillar signals tariff cost range and 2026 sales growth — Seeking Alpha

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.