Caterpillar (CAT) Stock Breaks All-Time High as Citi Sets $905 Target

TLDR

• CAT hit an all-time high of $798.56, up 170.88% over the past year
• Q4 EPS came in at $5.16, beating the $4.67 consensus estimate
• Q4 revenue hit $19.13 billion, up 17.9% year-over-year
• Citi raised its price target to $905; Jefferies lifted to $900
• Insiders sold 125,950 CAT over the past three months, totaling ~$88.6 million

Caterpillar (CAT) hit an all-time high of $798.56 on April 17, 2026, continuing a run that has seen the stock climb 170.88% over the past 12 months.

Caterpillar Inc., CAT

The machinery giant now carries a market cap of roughly $371 billion. It trades at a P/E ratio of 42, which some analysts flag as stretched relative to fair value.

CAT opened at $772.49 on Friday. Its 50-day moving average sits at $733.87, and its 200-day moving average is at $631.96.

The stock’s one-year low was $282.46. The new all-time high of $798.56 marks a dramatic turnaround from that level.

In its most recent quarter, Caterpillar posted EPS of $5.16, beating the consensus of $4.67 by $0.49. Revenue came in at $19.13 billion, above the $17.81 billion estimate and up 17.9% from the same period a year ago.

Full-year 2025 sales and revenues totaled $67.6 billion. The fourth quarter alone brought in a record $19.1 billion.

Analyst Targets Move Higher

Wall Street has been busy raising targets. Citi lifted its price target to $905. Jefferies moved from $825 to $900 with a Buy rating. Oppenheimer raised its target to $832.

Argus has a $820 target with a Buy. DA Davidson moved to $650 with a Neutral. Morgan Stanley sits at $430 with an Underweight rating.

The consensus across 16 Buy, 7 Hold, and 1 Sell rating lands at a “Moderate Buy” with an average price target of $751.45.

Some outlier forecasts put a path to $1,000 on the table, citing secular demand trends and margin expansion potential.

Insider Sales and Institutional Moves

Insiders have been selling. Over the past three months, insiders offloaded 125,950 CAT valued at roughly $88.6 million. Corporate insiders now hold just 0.33% of the company.

Insider Lange Bob De sold 22,656 CAT on February 6 at an average price of $720.11, a 22% reduction in their position. Rodney Michael Shurman sold 2,278 CAT on February 23 at $759.61, cutting their stake by 61%.

On the institutional side, Assetmark Inc. increased its position by 260.7% in Q4, adding 21,201 CAT to hold 29,334 valued at $16.8 million.

Several other funds also added exposure, including Brighton Jones (up 51.5%), United Bank (up 108.5%), and Alliancebernstein (up 6.5%). Institutions collectively own 70.98% of CAT.

Caterpillar has paid dividends for 56 consecutive years. The next quarterly dividend of $1.51 per share is due May 19, with an ex-dividend date of April 20. The annualized yield is 0.8%.

Kyle Epley takes over as CFO on May 1, 2026, following Andrew Bonfield’s retirement.

Caterpillar also recently acquired Monarch Technology, an autonomous and electric tractor startup that had shut down. The deal drew some dealer and farmer complaints ahead of closing and triggered a roughly 3% pullback in CAT at the time.

Q1 2026 earnings are scheduled for April 30, 2026.

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