Midwest Trust 13F: Cuts Caterpillar (CAT) Stake by $4.5M

Midwest Trust reduced its stake in Caterpillar Inc. (NYSE: CAT) by 5,496 shares during the quarter, according to a Form 13F filing disclosed on October 22, 2026. The sale marked a 3.86% cut to the fund's holdings in the heavy machinery giant. That adjustment left the firm holding 136,747 shares. The reported value of the stake stood at about $110.9 million when the paperwork was filed. Caterpillar shares closed at $704.05 on the filing date.

CAT Caterpillar Inc.

$704.05 ▲ +18.37% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Midwest Trust's Caterpillar Position

Midwest Trust held 142,243 shares of the Irving, Texas-based industrial company prior to the filing. Trimming 5,496 shares brought the total position down to 136,747 shares. The remaining block retains a large multi-million dollar footprint in the portfolio even after the reduction.

Other Institutional Activity in Caterpillar

Other fund managers made mixed moves with their Caterpillar shares around the same time. NLB Skladi trimmed its position by 6.8%, shedding 1,473 shares to hold 20,264 shares worth about $16.4 million. True North Advisors grew its holdings by 31.9%, buying 1,638 shares to finish with 6,780 shares valued at roughly $5.5 million. Livforsakringsbolaget Skandia raised its stake by 35.7%, adding 5,280 shares to reach 20,062 shares worth about $16.3 million. Symphony Financial boosted its stake by 78.7%, picking up 1,652 shares to hold 3,751 total worth about $3.1 million. Meanwhile, ASR Vermogensbeheer closed out its position entirely by getting rid of 61,741 shares.

Caterpillar Inc. Stock Down 3.0%

Caterpillar recently traded around $703.81 as of October 23, 2026, sitting close to its close of $704.05 on the filing date. The stock has experienced a wide trading range over the past year, dropping from a 52-week high of $1,073.46 down to a 52-week low of $510.21. Current prices put the shares below both their 50-day moving average of $806.12 and their 200-day moving average of $807.76.

Recent Earnings

Caterpillar posted trailing twelve-month revenue of $74.7 billion alongside trailing earnings of $23.23 per share. The company reported a net profit margin of 14.5% and a return on equity of 57.0%. The next corporate earnings update is scheduled for October 29, 2026.

Dividend

Caterpillar pays an annual dividend rate of $6.52 per share. That payout translates to a dividend yield of 0.88% with a payout ratio of 26.0%.

Insider Buying and Selling at Caterpillar Inc.

Company insiders completed several stock transactions earlier in the year. Officer William E. Schaupp sold 360 shares on May 13, 2026, at a price of $906.00 per share for a total of $326,160. Officer Denise C. Johnson sold 6,196 shares on May 13, 2026, worth about $5.6 million, followed by another sale of 12,605 shares on May 14, 2026, worth roughly $11.4 million. Chief Executive Officer Joseph E. Creed sold 32,401 shares on August 28, 2026, valued at approximately $26.2 million.

Analysts Set New Price Targets

Wall Street firms updated their outlooks on the stock leading up to the filing. Evercore ISI Group maintained an outperform rating with a target of $1,045.00 on August 11, 2026. Freedom Broker upgraded the stock to a buy with a $980.00 target on September 10, 2026. Truist Securities kept a buy rating while moving its target from $1,225.00 down to $1,100.00 on October 5, 2026. Citigroup maintained a buy rating and adjusted its target from $1,100.00 down to $950.00 on October 12, 2026. Oppenheimer kept an outperform rating with a target of $1,009.00 on October 14, 2026. Across 26 analyst opinions, the stock carries a consensus buy recommendation with a mean price target of $945.76.

About Caterpillar

Caterpillar makes heavy machinery, construction equipment, and mining tools, along with off-highway engines and industrial gas turbines. The firm sells its products globally to customers in infrastructure, resource industries, and energy sectors. Institutional changes like Midwest Trust's recent trim occur against this backdrop of industrial manufacturing activity.

Bottom Line

Investors are keeping a close watch on Caterpillar ahead of its upcoming earnings report on October 29, 2026. Further institutional filings will show whether other large asset managers followed Midwest Trust in trimming positions or chose to add to their holdings.