Street Calls of the Week
Caterpillar Inc. (NYSE:CAT) Executive Chairman Donald J. Umpleby III sold 17,166 shares of company stock on September 22, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $462.65, for a total transaction value of $7,941,849. The prices for these shares ranged from $460.62 to $466.98
Following the transaction, Umpleby directly owns 465,339 shares of Caterpillar common stock. In addition, he indirectly owns 59,000 shares held by an Irrevocable Trust for Descendants, 36,040 shares held by a Children’s Irrevocable Trust, and 1,030 shares held by a 401(k) Plan
The sale was reported in a Form 4 filing signed by Nicole Puza, POA for D. James Umpleby III, on September 23, 2025.
In other recent news, Caterpillar has revised its tariff cost estimates, projecting an increase to $500-$600 million for the third quarter and $1.5-$1.8 billion for 2025. This update follows additional tariffs announced since the company’s second-quarter earnings release. In response to these tariff concerns, several financial firms have adjusted their price targets for Caterpillar. BofA Securities raised its price target to $517, citing the potential of Caterpillar’s subsidiary, Solar Turbines, as a significant factor. Meanwhile, JPMorgan lowered its target to $505, and Oppenheimer reduced it to $480, both due to the anticipated tariff impacts. Bernstein maintained its price target at $447, despite the increased tariff cost expectations. These developments highlight the varying perspectives among analysts regarding Caterpillar’s future performance in light of the new tariff guidelines.
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