Caterpillar (CAT) Stock Rises on Q4 2025 Earnings

Caterpillar Inc. (CAT) reported fourth-quarter 2025 results showing top-line strength alongside pressure on margins and earnings.

Total revenues rose 18.0% year-over-year to $19.1 billion.

Gross profit declined 1.15% to $5.8 billion.

Operating profit fell 9.03% to $2.7 billion.

Net income attributable to common shareholders decreased 13.94% to $2.4 billion.

Diluted earnings per share were $5.12 (down 11.42% year-over-year).

Key cash-flow and balance-sheet highlights:

Cash flow from operating activities increased 5.84% to $3.6 billion.

Purchases of property, plant and equipment rose 29.41% to $1.3 billion (cash outflow).

Cash and cash equivalents grew 44.87% to $10.0 billion.

Total liabilities were $77.3 billion, up 13.18% year-over-year.

Cost of sales increased 28.93% to $13.3 billion.

Shares of Caterpillar (CAT) were up 1.48% since the market open this morning.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Caterpillar Inc. Insider Trading Activity

Caterpillar Inc. insiders have traded $CAT stock on the open market 50 times in the past 6 months. Of those trades, 1 have been purchases and 49 have been sales.

Here’s a breakdown of recent trading of $CAT stock by insiders over the last 6 months:

LANGE BOB DE (Group President) has made 0 purchases and 6 sales selling 69,341 shares for an estimated $46,787,580.
DENISE C JOHNSON (Group President) has made 0 purchases and 8 sales selling 39,138 shares for an estimated $26,655,960.
III DONALD J UMPLEBY (Executive Chairman) has made 0 purchases and 3 sales selling 51,500 shares for an estimated $23,703,810.
ANTHONY D. FASSINO (Group President) has made 0 purchases and 3 sales selling 24,888 shares for an estimated $16,284,166.
ANDREW R J BONFIELD (Chief Financial Officer) has made 0 purchases and 14 sales selling 20,000 shares for an estimated $11,465,037.
JASON KAISER (Group President) has made 0 purchases and 13 sales selling 10,707 shares for an estimated $6,034,490.
SUSAN C SCHWAB sold 2,324 shares for an estimated $952,840
WILLIAM E SCHAUPP (Chief Accounting Officer) sold 1,200 shares for an estimated $686,664
DAVID MACLENNAN purchased 300 shares for an estimated $170,658

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Caterpillar Inc. Hedge Fund Activity

We have seen 1,522 institutional investors add shares of Caterpillar Inc. stock to their portfolio, and 1,438 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 12,772,236 shares (-78.3%) from their portfolio in Q4 2025, for an estimated $7,316,830,837
NORGES BANK removed 5,579,193 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $3,196,152,293
WELLINGTON MANAGEMENT GROUP LLP added 5,098,964 shares (+3949.8%) to their portfolio in Q3 2025, for an estimated $2,432,970,672
PRICE T ROWE ASSOCIATES INC /MD/ added 4,956,952 shares (+267.1%) to their portfolio in Q3 2025, for an estimated $2,365,209,646
CAPITAL INTERNATIONAL INVESTORS added 2,138,909 shares (+inf%) to their portfolio in Q4 2025, for an estimated $1,225,316,798
BLACKROCK, INC. added 1,924,397 shares (+5.6%) to their portfolio in Q4 2025, for an estimated $1,102,429,309
CAPITAL RESEARCH GLOBAL INVESTORS removed 1,450,160 shares (-33.8%) from their portfolio in Q4 2025, for an estimated $830,753,159

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Caterpillar Inc. Government Contracts

We have seen $320,714,718 of award payments to $CAT over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

8511390294!D9R TRACTOR DOZER: $87,034,944
8511336920!TRACTOR DOZER: $83,357,120
8511272435!EXCAVATOR: $8,288,786
CAT PARTS C-7 SUPPLY ENGINE: $6,405,000
8511260946!EXCAVATOR: $5,954,622

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Caterpillar Inc. Congressional Stock Trading

Members of Congress have traded $CAT stock 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $CAT stock by members of Congress over the last 6 months:

SENATOR MARKWAYNE MULLIN purchased up to $50,000 on 12/29.
REPRESENTATIVE GILBERT RAY CISNEROS, JR. has traded it 2 times. They made 2 purchases worth up to $30,000 on 11/18, 10/17 and 0 sales.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Caterpillar Inc. Analyst Ratings

Wall Street analysts have issued reports on $CAT in the last several months. We have seen 9 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Wells Fargo issued a "Overweight" rating on 01/30/2026
JP Morgan issued a "Overweight" rating on 01/30/2026
Jefferies issued a "Buy" rating on 01/30/2026
Citigroup issued a "Buy" rating on 01/13/2026
Morgan Stanley issued a "Underweight" rating on 10/30/2025
Truist Securities issued a "Buy" rating on 10/30/2025
B of A Securities issued a "Buy" rating on 10/15/2025

To track analyst ratings and price targets for Caterpillar Inc., check out Quiver Quantitative's $CAT forecast page.

Caterpillar Inc. Price Targets

Multiple analysts have issued price targets for $CAT recently. We have seen 16 analysts offer price targets for $CAT in the last 6 months, with a median target of $659.0.

Here are some recent targets:

Michael Feniger from B of A Securities set a target price of $825.0 on 02/10/2026
Angel Castillo from Morgan Stanley set a target price of $425.0 on 02/03/2026
Michael Shlisky from DA Davidson set a target price of $650.0 on 02/02/2026
Jamie Cook from Truist Securities set a target price of $786.0 on 02/02/2026
Kyle Menges from Citigroup set a target price of $760.0 on 02/02/2026
Sabahat Khan from RBC Capital set a target price of $658.0 on 01/30/2026
Adam Seiden from Barclays set a target price of $625.0 on 01/30/2026