Pilgrim Partners Asia Pte Ltd Buys New Stake in Caterpillar Inc. $CAT

Posted by Geri Gentry on Nov 1st, 2026

Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Caterpillar Inc. (NYSE:CAT – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the industrial products company’s stock, valued at approximately $1,459,000. Caterpillar accounts for about 0.3% of Pilgrim Partners Asia Pte Ltd’s holdings, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CAT. BlackRock Inc. purchased a new position in Caterpillar during the 2nd quarter valued at $40,457,153,000. Bank of America Corp DE purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $5,818,150,000. Bank of New York Mellon Corp purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $3,192,710,000. Legal & General Group Plc bought a new stake in shares of Caterpillar during the 2nd quarter valued at about $2,783,451,000. Finally, Ascentis Wealth Management LLC boosted its stake in shares of Caterpillar by 110,539.0% during the 2nd quarter. Ascentis Wealth Management LLC now owns 2,518,143 shares of the industrial products company’s stock valued at $2,711,772,000 after purchasing an additional 2,515,867 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CAT. Oppenheimer reissued an “outperform” rating and issued a $1,009.00 price target on shares of Caterpillar in a research note on Thursday. Morgan Stanley reduced their target price on Caterpillar from $915.00 to $675.00 and set an “equal weight” rating on the stock in a report on Friday. Royal Bank Of Canada reduced their price target on Caterpillar from $897.00 to $722.00 and set a “sector perform” rating on the stock in a research note on Friday. Citigroup decreased their price objective on Caterpillar from $950.00 to $800.00 and set a “buy” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price objective on Caterpillar from $1,100.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Friday. Fifteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $913.96.

Check Out Our Latest Stock Analysis on Caterpillar

Insider Activity

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

Caterpillar Price Performance

Shares of NYSE CAT opened at $622.73 on Friday. The firm has a market cap of $286.25 billion, a P/E ratio of 24.43, a PEG ratio of 1.07 and a beta of 1.58. Caterpillar Inc. has a twelve month low of $537.08 and a twelve month high of $1,073.46. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 1.50. The company has a 50 day moving average of $783.25 and a 200 day moving average of $807.52.

Caterpillar (NYSE:CAT – Get Free Report) last posted its earnings results on Thursday, October 29th. The industrial products company reported $7.20 EPS for the quarter, topping analysts’ consensus estimates of $7.06 by $0.14. The business had revenue of $20.68 billion during the quarter, compared to analyst estimates of $20.76 billion. Caterpillar had a return on equity of 59.87% and a net margin of 15.21%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.95 EPS. As a group, research analysts expect that Caterpillar Inc. will post 27.75 EPS for the current fiscal year.

Caterpillar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, October 26th. This represents a $6.52 annualized dividend and a yield of 1.0%. Caterpillar’s dividend payout ratio is currently 25.58%.

Key Stories Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

Positive Sentiment: Caterpillar reported third-quarter sales and revenues of approximately $20.7 billion, up 17% year over year, while adjusted earnings per share of $7.20 exceeded the $7.06 consensus estimate. Power-generation sales increased 30%, helped by data-center demand, and the company reported a record $78.1 billion backlog. Caterpillar Reports Third-Quarter 2026 Results
Positive Sentiment: Truist Financial reaffirmed its “buy” rating, while Citigroup maintained a “buy” rating despite lowering its price target to $800. Both targets remain above the current trading level, suggesting some analysts see substantial long-term upside.
Neutral Sentiment: Bank of America said Caterpillar’s earnings power remains intact, and analysts expect revenue and EPS growth as the backlog converts. However, the backlog may extend into 2029–2030, meaning investors could wait longer for the full financial benefit.
Negative Sentiment: Management left its annual growth outlook unchanged and indicated only “moderate” fourth-quarter revenue growth. Investors had expected a stronger forecast or an upgrade, so the unchanged guidance overshadowed the earnings beat. Caterpillar Tops Quarterly Profit View
Negative Sentiment: Revenue came in slightly below consensus, while tariff expenses and rising inventories added to concerns about costs, demand timing and near-term margins.
Negative Sentiment: Several firms reduced their targets: Morgan Stanley cut its target to $675 and rated CAT “equal weight,” RBC lowered its target to $722 with a “sector perform” rating, and Truist reduced its target to $1,027. These cuts reinforce concerns that the stock’s premium valuation had become difficult to justify without faster growth.

Caterpillar Profile

(Free Report)

Caterpillar Inc is a manufacturer of construction, mining, and industrial equipment. Its product portfolio includes excavators, bulldozers, wheel loaders, motor graders, articulated trucks, and other machinery used in construction, infrastructure development, mining, quarrying, forestry, and related industries. The company also produces diesel and natural gas engines, industrial gas turbines, generator sets, and other power-generation and transportation equipment.

Caterpillar operates through businesses focused on construction industries, resource industries, and energy and transportation.