Is Caterpillar Stock Outperforming the Nasdaq?

With a market cap of $403.4 billion, Caterpillar Inc. (CAT) is a global manufacturer of construction and mining equipment, engines, turbines, and diesel-electric locomotives, serving customers in the United States and around the world. It also supports customers through financing, insurance, parts distribution, and digital services.

Companies valued over $200 billion are generally described as “mega-cap” stocks, and Caterpillar fits right into that category. Through its Construction Industries, Resource Industries, and Energy & Transportation segments, the company delivers a broad portfolio of machinery, components, and technology solutions, including autonomous systems and fleet management services.

Shares of the Irving, Texas-based company have fallen nearly 6% from its 52-week high of $931.35. Caterpillar’s shares have increased 17.9% over the past three months, lagging behind the broader Nasdaq Composite’s ($NASX) nearly 19% gain over the same time frame.

In the longer term, the heavy equipment manufacturer's shares have surged 150.6% over the past 52 weeks, surpassing NASX’s 41.2% return over the same time frame. Moreover, CAT stock is up 52.9% on a YTD basis, compared to NASX’s 16.1% rise.

The stock has been trading above its 50-day and 200-day moving averages since last year.

Shares of Caterpillar climbed 9.9% on Apr. 30 after the company reported strong Q1 2026 results with sales and revenues rising 22% year-over-year to $17.4 billion, driven by $2.3 billion in higher sales volume and $426 million in favorable price realization. Investor sentiment was further boosted by adjusted EPS of $5.54, up from $4.25 a year earlier, and management's comments highlighting robust order activity and a record backlog.

In comparison, rival Deere & Company (DE) has lagged behind CAT stock. DE stock has increased 16.5% on a YTD basis and 6.7% over the past 52 weeks. 

Despite the stock’s strong performance over the past year, analysts remain cautiously optimistic on CAT. It has a consensus rating of “Moderate Buy” from the 24 analysts in coverage, and the mean price target of $936.95 is a premium of 6.6% to current levels.