New York, Feb 19, 2026, 18:57 EST — After-hours
- Caterpillar shares closed up 1.1% at $760.53 and were little changed after the bell
- Deere’s earnings-driven surge helped steady heavy machinery names despite a weaker broad market
- Investors are lining up the next readouts on demand and tariffs, with a Mar. 5 CONEXPO fireside chat on deck
Caterpillar Inc. shares rose 1.1% to close at $760.53 on Thursday, snapping a two-session slide. The stock was little changed in after-hours trading, after moving between $744.37 and $761.84 in the regular session. (MarketWatch)
The move matters because Caterpillar is trading not far from recent highs, and the market is trying to decide whether the next leg is driven by real orders or just momentum. This week’s catalyst list got longer: a fresh mining-software acquisition, a CFO investor presentation, and a strong signal from a key peer.
U.S. stocks ended lower on Thursday, but industrials held up better than much of the market after Deere jumped on upbeat results. “Not everyone’s going to win and not all expectations are going to be met,” said Keith Buchanan, a senior portfolio manager at GLOBALT Investments, pointing to fast-shifting views around technology and growth. Traders also turn to Friday’s Personal Consumption Expenditures report, the Fed’s preferred inflation gauge. (Reuters)
Deere, a bellwether for farm and construction equipment demand, surged after it raised its full-year profit forecast and topped first-quarter earnings estimates, helped by cost cuts and a rebound in parts of its construction and small-agriculture businesses. Deere projected 2026 net income of $4.5 billion to $5.0 billion, up from its prior view, even as it flagged tariff-related cost pressure. (Reuters)
Caterpillar, meanwhile, said this week it has acquired RPMGlobal Holdings, an Australian mining software firm, expanding its data-driven tools for mine planning and site management. “Acquiring RPMGlobal is a notable milestone supporting our strategy,” Denise Johnson, group president of Caterpillar Resource Industries, said. RPMGlobal CEO Richard Mathews called Caterpillar “an ideal home for both our people and our software products,” and the company said RPMGlobal will keep operating under its own brand. (Caterpillar)
At a Barclays conference on Wednesday, Caterpillar CFO Andrew Bonfield reiterated long-term targets laid out at last year’s investor day, including a goal of 5% to 7% average annual sales and revenue growth through 2030 (a “CAGR,” or smoothed annual growth rate) and a $30 billion services revenue target by 2030. The deck also pointed to higher planned investment in digital and technology. (Q4 Capital)
A separate pressure point for some investors has been insider activity. A Form 4 filing — the SEC’s disclosure for insider transactions — showed Construction Industries group president Rodney Michael Shurman sold 1,764 Caterpillar shares on Feb. 17 at $763.39 apiece, leaving him with 1,440 shares held directly. (SEC)
But there is a risk case sitting right next to the bull one. Tariffs and shifting trade rules have become a live earnings swing factor for heavy manufacturers, and Caterpillar has previously warned that tariff-related costs could be a material headwind in 2026, even with demand holding up. (MarketWatch)
Caterpillar’s stock remains below its Feb. 12 high, and it still tends to trade as a read-through on construction activity, mining capital spending and policy noise in Washington. A soft macro print, fresh tariff headlines or a turn in commodity prices can quickly change the tone.
Next up, traders will parse Friday’s U.S. inflation data for rates expectations, then look for company-specific color at a Mar. 5 fireside chat at CONEXPO, where CEO Joe Creed and group president Rod Shurman are scheduled to appear in a Jefferies-hosted session. (Caterpillar)
