New York, Feb 4, 2026, 18:27 EST — After-hours
- Caterpillar shares dropped 1.6% during regular trading before nudging higher in after-hours trading
- Insider-trading disclosures revealed that two group presidents both exercised options and sold shares
- Following the earnings, some analysts raised their price targets, though at least one maintained a bearish stance.
Caterpillar shares dropped 1.6% to close at $691.82 on Wednesday, then ticked up roughly 0.4% in after-hours trading. (Yahoo Finance)
This matters because CAT has been hovering near new highs, putting a spotlight on management’s handling of its stock and prompting Wall Street to adjust forecasts. A setback now could trigger a chain reaction, particularly with heavy volume and volatile trading.
It arrives ahead of a packed U.S. data schedule, one that could shift forecasts for construction activity, mining demand, and financing costs — all key factors that typically influence heavy equipment orders after a delay.
Tuesday brought a modest corporate development: ACI revealed a multi-year deal with Caterpillar to upgrade “mission-critical” applications throughout Caterpillar’s dealer network. Financial details were not made public. (TipRanks)
Analyst reports keep rolling in. Truist’s Jamie Cook bumped the price target up to $786 from $729 and reiterated a buy rating, describing the quarter as “a high-quality earnings beat” backed by a “massive backlog number,” according to a research note summary on TipRanks. (TipRanks)
Not everyone is convinced. Morgan Stanley’s Angel Castillo raised the target price to $425 from $400 but held onto an underweight rating, according to the same summary. (TipRanks)
New Form 4 filings reveal that Group President Anthony Fassino exercised options for 15,000 shares and sold 10,671 of them on Feb. 2, fetching a weighted average price near $680.45. Some shares were withheld to cover taxes. (SEC)
A separate Form 4 revealed that Group President Denise Johnson exercised options on 57,101 shares and sold the same number that day through multiple trades, with some shares withheld to cover taxes. (SEC)
CAT’s shares swung sharply during the session. It kicked off at $707, climbed to a peak of $723.11, then dipped to $675 before closing. Roughly 4.8 million shares were traded, per Yahoo Finance.
U.S. services activity remained steady in January, but new orders eased and input prices stayed elevated, leaving investors uncertain about growth momentum and interest rate moves. (Reuters)
Caterpillar lagged behind some of its industry peers on the day, while Deere surged 4.1% and Toro also saw gains, reflecting a rotation within the machinery sector. (MarketWatch)
The risk for bulls is straightforward: this cyclical stock trades at elevated levels, and any hint of weaker end-demand or tighter financing could swiftly deflate those high expectations.
Traders are gearing up for Thursday’s delayed JOLTS report, with the U.S. January jobs report now set for Feb. 11 and January CPI due Feb. 13. Caterpillar’s upcoming dividend, payable Feb. 19, could influence short-term positioning. (Reuters)
