Caterpillar Stock Holds Steady Near $800 Amid Strong Quarterly Update

Caterpillar Inc., the heavy machinery manufacturer, saw its stock price hold steady near $800 on September 1, 2026. The company's market capitalization stands at $364.11 billion.

The latest quarterly update showed revenue of $20.54 billion and earnings per share of $8.17, both above consensus. This strong performance was driven by a 23.7 percent year-over-year increase in revenue and a significant improvement in earnings per share.

Caterpillar secured new and amended unsecured revolving credit facilities with total aggregate commitments of $11.5 billion, providing the company with more balance-sheet room. MarketBeat data puts the consensus price target at $995.52, implying an upside of 24.8 percent against the current stock price.

The company's backlog increased by $9.4 billion to $72.1 billion in the quarter, a 15 percent quarter-over-quarter rise and nearly double the level a year earlier. This combination of backlog and financing capacity keeps the 2026 earnings path in view, with analysts lifting Caterpillar's fiscal 2026 EPS estimate to 27.35.