CATERPILLAR INC
At today's price, CATERPILLAR INC (CAT) is priced for today's economics sustained for ~10.3 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Caterpillar sells iron, but its durable economics come from the installed base and the dealer network that services it: the FY2025 10-K describes a worldwide network of 108 distributors covering 159 countries, and the aftermarket parts and service that flow through them are what smooth the equipment cycle. • The price is the risk: today's level pays roughly 42 times company-wide operating income, a multiple that requires Caterpillar to grow near its self-funding ceiling for about a decade, and
Is CAT overvalued? See what's priced in →
3,653 institutional managers reported holding CAT in 13F filings for the quarter ended 2026-03-31. Together they hold about 70% of the company; the top 10 hold 39%. 318 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 8.4M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CAT has cut its share count 15.4% over the past five years, spending $29.84B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 12 years straight; the current rate is $5.94 a share annually. Cash returned over the past three years: $7.42B in dividends and $21.36B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CAT over the trailing three years: 2024: 3 buys totaling $318k; 2025: 2 buys totaling $291k. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CAT's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | +8.4% | -7.3% |
| 2023-11-02 | -4.3% | +19.6% |
| 2024-02-17 | +2.4% | +10.2% |
| 2024-05-02 | -5.5% | -1.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CAT's latest 8-K filings: 2026-06-11 (items 5.07, 7.01, 9.01); 2026-04-30 (items 2.02, 7.01, 9.01); 2026-04-13 (items 8.01, 9.01); 2026-04-10 (items 5.02, 9.01); 2026-03-26 (items 8.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.