New York, February 12, 2026, 11:14 EST — Regular session
- Caterpillar picked up roughly 0.6% on Thursday, adding to gains from the prior session after Argus Research bumped its price target.
- Officer Bob De Lange has filed a Form 144, according to a company disclosure, signaling plans to potentially sell 12,507 shares.
- Eyes are on Friday’s U.S. inflation data, plus a Feb. 18 CFO appearance at a Barclays conference is also on the docket for investors.
Caterpillar traded up 0.6% to $779.93 late Thursday morning, still catching attention after analysts sent the stock surging the previous day.
Caterpillar has turned into a fast proxy for sentiment on both growth and interest rates. The stock surged 4.4% Wednesday—the best performer in the Dow—after Argus Research took a red pen to its price target, hiking it to $820 from $625. Traders are eyeing Friday’s consumer price index release, a crucial read on inflation. “The Fed can’t declare victory just yet,” said Julia Hermann, global market strategist at New York Life Investments, referring to the policy environment. 1
Caterpillar’s pricey equipment is usually bought on credit, so the stock tends to react fast when rate-cut expectations shift. If inflation runs hot, yields may climb and cyclicals like CAT could take a hit. Softer inflation? Yields might drop, offering some relief—though slower numbers also risk reigniting fears that demand is cooling off.
In a separate Feb. 11 filing, officer Bob De Lange submitted a Form 144 notice for a potential sale of 12,507 Caterpillar shares, with a listed market value around $9.59 million. The Form 144 is required for certain insider sales under Rule 144, but it doesn’t confirm that any shares have been sold yet. 2
On Wednesday, Caterpillar said CFO Andrew Bonfield will be speaking at a fireside chat during the Barclays Industrial Select Conference in Miami. The session is set for Feb. 18, kicking off around 10:25 a.m. EST and will be webcast publicly. Investors usually tune in to these events for any hints about changes in orders, pricing, or costs. 3
The story still circles back to Caterpillar’s late-January earnings. Power equipment for data centers provided a lift, but the company also warned it faces about $2.6 billion in tariff costs in 2026. CEO Joe Creed pointed to growing demand for “prime power” — those are big generators meant to supply steady electricity. Jefferies’ Stephen Volkmann called out tariffs as a drag on margins, saying the pressure could hang around through 2026. 4
Investors usually lump Caterpillar in with equipment giants Deere and Japan’s Komatsu as a bellwether for construction and mining. But this week? The stock has moved more in line with rate-sensitive plays than just tracking end-market demand.
Still, the setup looks messy. Shares have already run up, and routine insider-sale filings can rattle investors. Throw in a surprise from CPI or a tougher stance on tariffs and costs, and this rally could get tested fast.
Traders are watching for Friday’s U.S. CPI report. After that, Bonfield’s conference slot on Feb. 18 could bring new guidance cues.
