Caterpillar Inc. (CAT)

Caterpillar's stock price increased by 33.82% from October 28, 2024, to October 24, 2025, reaching $522.73, with a 20.7% gain in the past three months. The stock was up 21% in the month leading up to October 15, 2025, due to positive analyst sentiment and strategic expansion. Caterpillar announced the acquisition of RPMGlobal Holdings and a $725 million capital expansion at its engine facility in Lafayette, Indiana. Despite these positive developments, Caterpillar is anticipated to report lower year-over-year earnings for the third quarter of 2025 due to higher costs. Insiders sold 55,985 shares worth $25,559,300 in the three months prior to October 28, 2025.

Demand for Caterpillar's products is cyclical and sensitive to economic conditions. The construction industry is influenced by economic growth, interest rates, housing demand, and government infrastructure spending. In the first quarter of 2025, machine sales declined by 1% but were better than expected. For the second quarter of 2025, Caterpillar anticipated sales to be similar to the prior year, with growth in Energy & Transportation offsetting lower sales in Construction Industries and Resource Industries. The Energy & Transportation segment has seen strong demand, partly driven by data centers. Government infrastructure spending is expected to have more significant effects in 2025 and 2026.

Caterpillar Inc. is the world's largest manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through Construction Industries, Resource Industries, and Energy & Transportation segments, and provides financing via its Financial Products segment. The company's products include a wide array of machines and equipment for construction, resource extraction, and energy and transportation purposes. Caterpillar also licenses clothing and workwear boots under its brand.

Caterpillar has a significant global presence, operating in approximately 190 to 192 countries with over 150 independent dealers and around 2,800 facilities. Its global reach is balanced between the United States and the rest of the world. While construction tends to be more domestic, other divisions are more geographically diversified. Caterpillar has manufacturing facilities in various countries, including Brazil and India. Production in Tosno, Russia, stopped in May 2022, with assets later sold in November 2023. Caterpillar employs 51,000 people in the United States, with over 4,100 workers at 12 facilities across Indiana.

Caterpillar has maintained a strong brand reputation for over a century, known for power and durability. The company is committed to a reduced-carbon future, developing fuel-efficient, low-emission products. Caterpillar announced a five-year, $100 million workforce pledge to grow interest in advanced manufacturing careers and prepare U.S. workers for the future. Caterpillar actively participates in global communities, supporting disaster relief efforts and partnering with organizations like the Red Cross.

Caterpillar Inc. has a diverse ownership structure, with institutional investors holding approximately 65% of the company's shares. Major institutional shareholders include Vanguard Group Inc., State Street Corp., and BlackRock, Inc. Individual investors and public companies own approximately 60.68% of the stock, while insiders own about 0.20% to 0.33%.