Q2 EPS Estimates for Caterpillar Increased by Zacks Research

Caterpillar Inc. (NYSE:CAT) – Research analysts at Zacks Research raised their Q2 2026 earnings per share (EPS) estimates for shares of Caterpillar in a report issued on Thursday, April 2nd. Zacks Research analyst Team now expects that the industrial products company will earn $5.28 per share for the quarter, up from their previous forecast of $5.17. The consensus estimate for Caterpillar’s current full-year earnings is $19.86 per share. Zacks Research also issued estimates for Caterpillar’s Q3 2026 earnings at $5.70 EPS, FY2026 earnings at $21.60 EPS, Q1 2027 earnings at $5.29 EPS, Q3 2027 earnings at $6.03 EPS, Q4 2027 earnings at $7.37 EPS, FY2027 earnings at $24.81 EPS, Q1 2028 earnings at $6.26 EPS and FY2028 earnings at $29.82 EPS.

A number of other research analysts also recently issued reports on CAT. Daiwa Securities Group boosted their price objective on Caterpillar from $640.00 to $790.00 in a research note on Wednesday, February 25th. JPMorgan Chase & Co. raised their target price on shares of Caterpillar from $765.00 to $860.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Citigroup upped their price target on shares of Caterpillar from $760.00 to $785.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Morgan Stanley increased their price objective on shares of Caterpillar from $400.00 to $425.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial restated a “market perform” rating on shares of Caterpillar in a research report on Wednesday, January 7th. Sixteen 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. Based on data from MarketBeat.com, Caterpillar has a consensus rating of “Moderate Buy” and a consensus price target of $737.55.

Caterpillar Stock Up 0.0%

NYSE CAT opened at $717.23 on Friday. Caterpillar has a 52 week low of $267.30 and a 52 week high of $789.81. The company has a quick ratio of 0.94, a current ratio of 1.44 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $333.72 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.52. The stock’s 50-day moving average price is $715.54 and its 200-day moving average price is $614.06.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 29th. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.49. Caterpillar had a return on equity of 45.76% and a net margin of 13.14%.The company had revenue of $19.13 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the business earned $5.14 earnings per share. Caterpillar’s quarterly revenue was up 17.9% compared to the same quarter last year.

Insiders Place Their Bets

In related news, insider Denise C. Johnson sold 39,138 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $681.08, for a total transaction of $26,656,109.04. Following the completion of the transaction, the insider owned 43,350 shares in the company, valued at approximately $29,524,818. This represents a 47.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rodney Michael Shurman sold 2,278 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 1,443 shares of the company’s stock, valued at $1,096,117.23. The trade was a 61.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in Caterpillar by 3,949.8% during the third quarter. Wellington Management Group LLP now owns 5,228,058 shares of the industrial products company’s stock valued at $2,494,568,000 after buying an additional 5,098,964 shares during the last quarter. Capital International Investors purchased a new stake in shares of Caterpillar during the 4th quarter worth approximately $1,225,317,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Caterpillar by 1,851.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,830,414 shares of the industrial products company’s stock worth $873,382,000 after acquiring an additional 1,736,631 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Caterpillar by 573.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,504,612 shares of the industrial products company’s stock valued at $861,947,000 after acquiring an additional 1,281,087 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Caterpillar by 16.0% in the fourth quarter. Bank of America Corp DE now owns 6,738,802 shares of the industrial products company’s stock valued at $3,860,457,000 after purchasing an additional 928,974 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Caterpillar News Summary

Here are the key news stories impacting Caterpillar this week:

• Positive Sentiment: Zacks Research raised multiple forward-quarter and full-year EPS forecasts for CAT (including FY2026–FY2028 and several quarterly uplifts), pushing multi-year earnings power higher and supporting a more bullish outlook from analysts. (Zacks research note)
• Positive Sentiment: Analyst price-target increases and an upgrade have driven buying interest—separate notes lifted CAT targets to $700 and $750 and an upgrade sent the stock up intraday. Caterpillar (NYSE:CAT) Price Target Raised to $700.00 Caterpillar (NYSE:CAT) Price Target Raised to $750.00 Caterpillar (NYSE:CAT) Trading Up 3.1% After Analyst Upgrade
• Positive Sentiment: Local manufacturing expansion: Caterpillar plans to add ~200 jobs at its Victoria, Texas facility — signals ongoing demand for equipment and incremental capacity investment. Caterpillar to add 200 jobs at Victoria facility even as manufacturing activity across Texas slows
• Neutral Sentiment: C-suite governance change: CEO Joe Creed has taken on the additional role of board chairman following Jim Umpleby’s retirement — typically neutral but worth watching for any strategic shifts. Caterpillar CEO Joe Creed takes over added role as board chairman
• Neutral Sentiment: Macro tailwind: Geopolitical-driven market flows (the “Iran war FOMO” trade) have boosted industrial names including Caterpillar as investors rotate into defense- and infrastructure-exposed stocks. The Iran War FOMO Trade Is Sending Stocks Surging
• Negative Sentiment: Regulatory/supply-chain risk: U.S. senators have launched a review of heavy-equipment imports from Mexico that could lead to tariffs or restrictions affecting cross-border parts and finished goods — a potential headwind for Caterpillar’s Mexico-linked manufacturing footprint. Caterpillar Faces Mexico Import Review As Supply Chain Risks Resurface

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.