Alpha Cubed Investments LLC reported a 1.5% reduction in its Caterpillar position during the third quarter, disposing of 2,447 shares to hold 160,764 shares at quarter end. This stake represented 2.7% of the firm’s total portfolio, making Caterpillar its 14th largest holding. The remaining shares were valued at $76.7 million based on portfolio valuations in the latest 13F filing. This modest sell-off contrasts with notable accumulation by Pacific Point Advisors LLC, which initiated a new $579,000 position in the fourth quarter, and Brighton Jones LLC, which boosted its stake by 51.5% to 7,409 shares worth $2.69 million.

Caterpillar delivered fourth quarter earnings per share of $5.16, surpassing consensus estimates by $0.49, on revenue of $19.13 billion, which exceeded expectations by $1.32 billion and represented an 18% year-over-year increase. The Power & Energy segment led growth with a 44% rise in power generation sales and a 37% jump in overall Power & Energy revenue. The company’s net margin reached 14.34% while return on equity stood at 47.16%. Backlog hit a record $51 billion, up 71% from the prior year, providing visibility into 2026 volumes. Services revenue climbed to $24 billion, supported by connectivity across a fleet of 1.6 million assets.

Caterpillar announced a quarterly dividend of $1.51 per share, translating to a $6.04 annualized payout and a 0.9% yield, with a January 20 record date and February 19 payment date. The company’s payout ratio is 31.01%. Analyst activity has been bullish: five firms raised price targets in January, including Bank of America lifting its objective to $708 and Wolfe Research to $670, while maintaining ratings ranging from Neutral to Outperform. The consensus rating remains Moderate Buy with a median target of $640.20, reflecting confidence in sustained demand from infrastructure and energy markets.