In the last three months, 23 analysts have published ratings on Caterpillar (NYSE:CAT), offering a diverse range of perspectives from bullish to bearish.

The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months.

	Bullish	Somewhat Bullish	Indifferent	Somewhat Bearish	Bearish
Total Ratings	8	7	5	3	0
Last 30D	0	1	0	0	0
1M Ago	6	3	3	1	0
2M Ago	1	3	1	1	0
3M Ago	1	0	1	1	0

Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $682.78, with a high estimate of $878.00 and a low estimate of $395.00. Marking an increase of 7.8%, the current average surpasses the previous average price target of $633.35.

Investigating Analyst Ratings: An Elaborate Study

An in-depth analysis of recent analyst actions unveils how financial experts perceive Caterpillar. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.

Analyst	Analyst Firm	Action Taken	Rating	Current Price Target	Prior Price Target
David Raso	Evercore ISI Group	Raises	Outperform	$878.00	$630.00
Michael Feniger	B of A Securities	Raises	Buy	$825.00	$735.00
Angel Castillo	Morgan Stanley	Raises	Underweight	$425.00	$400.00
Michael Shlisky	DA Davidson	Raises	Neutral	$650.00	$569.00
Kyle Menges	Citigroup	Raises	Buy	$760.00	$710.00
Jamie Cook	Truist Securities	Raises	Buy	$786.00	$729.00
Stephen Volkmann	Jefferies	Raises	Buy	$785.00	$750.00
Tami Zakaria	JP Morgan	Raises	Overweight	$765.00	$740.00
Kristen Owen	Oppenheimer	Raises	Outperform	$729.00	$700.00
Adam Seiden	Barclays	Raises	Equal-Weight	$625.00	$610.00
Sabahat Khan	RBC Capital	Raises	Sector Perform	$658.00	$587.00
Jerry Revich	Wells Fargo	Raises	Overweight	$756.00	$702.00
Michael Feniger	B of A Securities	Raises	Buy	$735.00	$708.00
Stephen Volkmann	Jefferies	Raises	Buy	$750.00	$700.00
Angel Castillo	Morgan Stanley	Raises	Underweight	$400.00	$395.00
Adam Seiden	Barclays	Raises	Equal-Weight	$610.00	$555.00
Jerry Revich	Wells Fargo	Raises	Overweight	$702.00	$675.00
Kristen Owen	Oppenheimer	Raises	Outperform	$700.00	$645.00
Tami Zakaria	JP Morgan	Raises	Overweight	$740.00	$730.00
Kyle Menges	Citigroup	Raises	Buy	$710.00	$690.00
Chad Dillard	Bernstein	Raises	Market Perform	$630.00	$557.00
Kyle Menges	Citigroup	Raises	Buy	$690.00	$670.00
Angel Castillo	Morgan Stanley	Raises	Underweight	$395.00	$380.00

Key Insights:

• Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Caterpillar. This information provides a snapshot of how analysts perceive the current state of the company.
• Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Caterpillar compared to the broader market.
• Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Caterpillar's stock. This comparison reveals trends in analysts' expectations over time.

Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Caterpillar's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.

Stay up to date on Caterpillar analyst ratings.

All You Need to Know About Caterpillar

Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its reporting segments are construction, resource, energy, and transportation. Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has a global reach that is approximately evenly balanced between the US and the rest of the world. Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of over 150 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.

Caterpillar's Financial Performance

Market Capitalization Analysis: The company's market capitalization surpasses industry averages, showcasing a dominant size relative to peers and suggesting a strong market position.

Positive Revenue Trend: Examining Caterpillar's financials over 3M reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 18.0% as of 31 December, 2025, showcasing a substantial increase in top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.

Net Margin: Caterpillar's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 12.55%, the company showcases strong profitability and effective cost management.

Return on Equity (ROE): Caterpillar's ROE stands out, surpassing industry averages. With an impressive ROE of 11.44%, the company demonstrates effective use of equity capital and strong financial performance.

Return on Assets (ROA): Caterpillar's ROA excels beyond industry benchmarks, reaching 2.5%. This signifies efficient management of assets and strong financial health.

Debt Management: Caterpillar's debt-to-equity ratio surpasses industry norms, standing at 2.03. This suggests the company carries a substantial amount of debt, posing potential financial challenges.

Understanding the Relevance of Analyst Ratings

Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.

Analysts may enhance their evaluations by incorporating forecasts for metrics like growth estimates, earnings, and revenue, delivering additional guidance to investors. It is vital to acknowledge that, although experts in stocks and sectors, analysts are human and express their opinions when providing insights.

This article was generated by Benzinga's automated content engine and reviewed by an editor.