Waddell & Associates LLC Purchases 676 Shares of Caterpillar Inc. $CAT

16 Aug 2026, 10:26 by Michael Walen · The Markets Daily

Waddell & Associates LLC grew its position in shares of Caterpillar Inc. (NYSE:CAT – Free Report) by 74.9% during the second quarter, Holdings Channel reports. The fund owned 1,579 shares of the industrial products company’s stock after purchasing an additional 676 shares during the period. Waddell & Associates LLC’s holdings in Caterpillar were worth $1,681,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Matrix Trust Co raised its holdings in Caterpillar by 93.8% in the second quarter. Matrix Trust Co now owns 31 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 15 shares in the last quarter. Lam Group Inc. bought a new stake in shares of Caterpillar during the 1st quarter valued at $26,000. Ramsey Quantitative Systems purchased a new stake in shares of Caterpillar in the 2nd quarter worth about $48,000. Torren Management LLC bought a new position in shares of Caterpillar in the 4th quarter worth about $27,000. Finally, Frazier Financial Advisors LLC increased its stake in shares of Caterpillar by 220.0% in the 4th quarter. Frazier Financial Advisors LLC now owns 48 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Key Headlines Impacting Caterpillar

Here are the key news stories impacting Caterpillar this week:

Positive Sentiment: Caterpillar ended the second quarter with a record $72 billion backlog, signaling sustained demand for heavy equipment and supporting the company’s upgraded 2026 sales outlook. Growth is reportedly broad-based across major business segments. CAT Ends Q2 With Record Backlog: Is Demand Momentum Here to Stay?
Positive Sentiment: Zacks Research upgraded CAT from “hold” to “strong-buy,” adding to the favorable analyst sentiment surrounding the shares. The company’s average brokerage recommendation is also equivalent to “buy.” Zacks Research rating
Positive Sentiment: The company’s latest quarterly results provide fundamental support: Caterpillar reported revenue of $20.54 billion, up 23.7% year over year, and earnings of $8.17 per share, well above consensus expectations.
Neutral Sentiment: Analysts remain cautiously optimistic. Caterpillar has outperformed the broader market over the past year, but consensus views already anticipate that the recent revenue boom will moderate. Do Wall Street Analysts Like Caterpillar Stock?
Negative Sentiment: One analysis argues that Caterpillar’s elevated valuation will depend increasingly on margin improvement rather than continued backlog growth. If revenue growth fades without stronger profitability, the stock’s valuation could remain difficult to justify. Caterpillar’s Falling Multiple Rests On Margin, Not Its Backlog
Negative Sentiment: The bullish brokerage consensus may be less informative because sell-side analysts often issue overly optimistic recommendations. Investors may therefore focus more on execution, margins and backlog conversion than on the average rating alone. Brokers Suggest Investing in Caterpillar

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CAT shares. Robert W. Baird set a $970.00 price objective on shares of Caterpillar in a research note on Wednesday, August 5th. HSBC lifted their target price on shares of Caterpillar from $850.00 to $1,100.00 in a report on Tuesday, May 5th. JPMorgan Chase & Co. upped their price target on Caterpillar from $1,125.00 to $1,165.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 17th. Barclays lifted their price objective on Caterpillar from $800.00 to $900.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on Caterpillar from $1,050.00 to $1,155.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $995.52.

View Our Latest Report on Caterpillar

Caterpillar Trading Up 0.3%

Shares of CAT stock opened at $856.82 on Friday. Caterpillar Inc. has a 12-month low of $405.46 and a 12-month high of $1,073.46. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The firm’s 50 day moving average is $915.09 and its 200 day moving average is $826.53. The stock has a market capitalization of $393.86 billion, a P/E ratio of 36.87, a P/E/G ratio of 1.53 and a beta of 1.60.

Caterpillar (NYSE:CAT – Get Free Report) last announced its earnings results on Tuesday, August 4th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $1.95. The business had revenue of $20.54 billion during the quarter, compared to analyst estimates of $19.34 billion. Caterpillar had a net margin of 14.51% and a return on equity of 55.53%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.72 EPS. Research analysts expect that Caterpillar Inc. will post 26.56 earnings per share for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.8%. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is currently 28.06%.

Caterpillar Company Profile

(Free Report)

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.