Caterpillar Inc. (NYSE:CAT) stock rose in Thursday’s premarket trading after the company expanded its mining technology portfolio with the acquisition of Skycatch Inc.
Caterpillar Acquires Skycatch To Expand AI-Powered Mining Technology
On Monday, Caterpillar announced it has acquired Skycatch, a mining technology company specializing in spatial data capture, processing and AI-powered analysis. Financial terms were not disclosed.
The acquisition follows Caterpillar’s recent purchase of RPMGlobal and strengthens its portfolio of mining technology solutions. Skycatch’s platform generates near-real-time digital twins of mining sites, enabling customers to improve planning, execution and decision-making.
“Acquiring Skycatch aligns with our strategy to solve our customers’ toughest challenges,” said Denise Johnson, group president of Caterpillar Resource Industries.
Caterpillar plans to integrate Skycatch’s technology into its RPM and MineStar platforms to help mining customers improve safety, productivity and operational predictability across both staffed and autonomous fleets.
Technical Picture Remains Constructive
Caterpillar is trading just above its 20-day simple moving average of $968.34 and near its 20-day exponential moving average of $966.53. These levels often serve as an important short-term support area.
The longer-term trend remains positive. The stock is 5.3% above its 50-day SMA, 16.7% above its 100-day SMA and 37.7% above its 200-day SMA.
The relative strength index stands at 49.06, a neutral reading. That suggests buying and selling pressure are balanced after the stock’s strong 12-month run.
The moving-average structure also remains bullish. The 20-day SMA sits above the 50-day SMA, while the 50-day SMA remains above the 200-day SMA following a golden cross in July 2025.
Traders are watching resistance near the 52-week high of $1,073.46. A sustained move above that level could signal renewed upside momentum. Initial support sits near $854.50, a prior demand zone that remains above the 100-day SMA.
Earnings Remain the Next Major Catalyst
Caterpillar is scheduled to report second-quarter results on Aug. 4. Analysts expect earnings of $6.17 per share on revenue of $19.07 billion, up from earnings of $4.72 per share and revenue of $16.69 billion a year earlier.
The stock carries a consensus Buy rating. Recent analyst actions include Truist Securities raising its price forecast to $1,218 on July 2, Wells Fargo increasing its price forecast to $1,155 on June 23 and Argus Research lifting its price forecast to $990 on May 5.
Strong Momentum Offsets Rich Valuation
According to Benzinga Edge, Caterpillar scores highly for momentum, quality and growth. However, its value score remains weak, reflecting a premium valuation relative to peers.
The stock is also a major holding in several industrial ETFs, including the SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA), the Industrial Select Sector SPDR Fund (NYSE:XLI) and the Vanguard Industrials ETF (NYSE:VIS). That means fund inflows and outflows can have an outsized impact on Caterpillar shares.
CAT Stock Price Activity: Caterpillar shares were up 2.00% at $967.00 during premarket trading on Thursday, according to Benzinga Pro data.
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