Gables Capital Management opens a $7.72 million position
Gables Capital Management Inc. acquired 7,250 shares of Caterpillar Inc. in the second quarter, valued at approximately $7,721,000, according to the firm's most recent SEC filing. The position makes Caterpillar the seventh-largest holding in the fund's portfolio, accounting for roughly 2.8% of total assets. Other small institutional managers also adjusted their Caterpillar exposure during the quarter: Stonebridge Financial Group added 11 shares, Inspirion Wealth Advisors added 11 shares, Bell Bank added 11 shares, Cornerstone Advisory added 12 shares, and Advisory Resource Group added 12 shares.
First National Bank of Omaha takes a $12.67 million stake
First National Bank of Omaha disclosed a new position of 12,159 Caterpillar shares, valued at approximately $12,670,000, in its Form 13F for the second quarter. Other institutional buyers adjusting Caterpillar holdings in the same period included Decker Retirement Planning, which grew its stake by 440.0% to 27 shares, Matrix Trust Co, which increased its holdings by 93.8% to 31 shares, and Axiom Investment Management, which opened a new position. Institutional investors collectively own 70.98% of the stock.
NewEdge Wealth commits $6.68 million to CAT
NewEdge Wealth LLC established a new second-quarter position of 6,274 Caterpillar shares, valued at approximately $6,681,000. Around the same time, Alliancebernstein L.P. grew its existing stake by 6.5% to 572,165 shares, valued at $222,120,000. Shares of CAT opened at $797.72 on Tuesday, below the stock's 50-day simple moving average of $889.47 and its 200-day average of $838.20, and well under its 12-month high of $1,073.46.
Background: a quarter that topped expectations
The new buying comes after Caterpillar reported second-quarter earnings of $8.17 per share, beating the $6.22 consensus by $1.95, on revenue of $20.54 billion, up 23.7% year-over-year. The board also raised the quarterly dividend to $1.63 per share, an annualized $6.52, paid on August 19 to shareholders of record on July 20. Sell-side analysts carry a "Moderate Buy" consensus with an average price target of $995.52, while highlighting valuation risk tied to AI- and data-center-related demand.
Brokers raise FY2026 earnings view
Separately, Erste Group Bank lifted its full-year 2026 EPS estimate for Caterpillar to $27.50 from $24.78, above the current consensus of $27.14, while keeping a "Hold" rating. Other recent target adjustments include Citigroup raising its objective to $1,100 from $1,020, UBS Group to $925 from $900, Barclays to $900 from $800, Argus to $990 from $820, and Royal Bank of Canada to $897 from $877. Wells Fargo previously lifted its target to $1,155 with an "overweight" rating. The next verifiable milestone will be Caterpillar's next quarterly earnings release, with FY2026 consensus EPS tracking at $27.14.
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