Rhumbline Advisers increased its stake in Caterpillar Inc. by 0.7% in the third quarter, bringing its total holdings to 852,649 shares valued at over $406 million. This move is part of several institutional changes in Caterpillar stock, with 70.98% of the company’s stock owned by institutional investors and hedge funds. Despite some insider selling, analysts maintain a “Moderate Buy” rating for Caterpillar, with an average price target of $695.19, following strong Q4 earnings and positive sentiment regarding its AI integration and Q4 revenue growth.
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Rhumbline Advisers Boosts Stock Position in Caterpillar Inc. $CAT
Rhumbline Advisers increased its stake in Caterpillar Inc. by 0.7% in the third quarter, bringing its total holdings to 852,649 shares valued at over $406 million. This move is part of several institutional changes in Caterpillar stock, with 70.98% of the company’s stock owned by institutional investors and hedge funds. Despite some insider selling, analysts maintain a “Moderate Buy” rating for Caterpillar, with an average price target of $695.19, following strong Q4 earnings and positive sentiment regarding its AI integration and Q4 revenue growth.