New York, Feb 26, 2026, 19:01 EST — After-hours
- Caterpillar shares down about 0.4% in after-hours trade
- Cat Financial issued $1.3 billion of notes due 2029, a filing showed
- Investors look to ConExpo next week for fresh product and demand signals
Caterpillar (CAT) shares slipped about 0.4% to $752.93 in after-hours trading on Thursday, after swinging between $752.79 and $767.38 during the day’s session.
The move matters because Caterpillar is a bellwether for heavy equipment demand, and traders have been looking for the next datapoint on U.S. construction, mining and power spending after a strong run in the stock.
It also comes with markets on edge. Wall Street finished mixed on Thursday as Nvidia’s slide pulled the Nasdaq lower, a reminder that one crowded trade can still jerk the tape around. AP News
A filing this week added to the near-term story. Caterpillar Financial Services Corporation issued $350 million of floating-rate notes due 2029 and $950 million of 3.750% notes due 2029, according to the document.
The finance arm’s funding matters to equity investors because it underpins Cat’s ability to offer customer financing and leasing, especially when buyers lean on credit to take deliveries.
On the product side, Caterpillar said it will roll out a refreshed Cat Rentals brand and updated online tools tied to dealer rentals, including tighter links to telematics data — machine data that helps track location and use — for fleet management. “It’s all about making the rental process easier and offering better visibility,” Phil Kelliher, senior vice president for Cat Rental & Used, said. Cat
That rollout is pegged to CONEXPO-CON/AGG in Las Vegas, which runs March 3-7. The event schedule shows Caterpillar executives are set to speak during the week, a forum where machinery makers often preview new products and digital tools. CONEXPO-CON/AGG
Sell-side optimism has been running hot. Wells Fargo analyst Jerry Revich lifted his Caterpillar price target to $870, Barron’s reported, with other bullish targets sitting even higher. Barron’s
Caterpillar has also been pulled into the market’s AI-spending debate, less for chips than for the equipment behind data-center buildouts. Brian Mulberry, chief market strategist at Zacks Investment Management, said investors trying to play the AI trade should “simply follow the revenue,” pointing to “construction experts” including Caterpillar and Deere. Reuters
But the setup cuts both ways. The company has warned tariffs could be a meaningful cost headwind in 2026, even as demand tied to power generation for data centers has helped results. Reuters
With regular trade done for Thursday, traders will look for follow-through on Friday and then shift attention to Las Vegas next week, where any new product updates, order chatter and commentary around rentals and power demand could set the next direction for CAT shares.
