Caterpillar Inc. (NYSE:CAT) shareholders have witnessed an increase in enthusiasm from smart money of late.
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With these “truths” under our belt, let’s take a gander at the key action encompassing Caterpillar Inc. (NYSE:CAT).
What does the smart money think about Caterpillar Inc. (NYSE:CAT)?
At the end of the first quarter, a total of 36 of the hedge funds we track were bullish in this stock, a change of 3% from the first quarter. With the smart money’s sentiment swirling, there exists a select group of key hedge fund managers who were upping their holdings meaningfully.
When looking at the hedgies we track, Michael Larson’s Bill & Melinda Gates Foundation Trust had the largest position in Caterpillar Inc. (NYSE:CAT), worth close to $892.4 million, accounting for 4.9% of its total 13F portfolio. On Bill & Melinda Gates Foundation Trust’s heels is Renaissance Technologies, managed by Jim Simons, which held a $154.9 million position; 0.4% of its 13F portfolio is allocated to the company. Some other hedgies that hold long positions include Donald Chiboucis’s Columbus Circle Investors, Phill Gross and Robert Atchinson’s Adage Capital Management and Ken Griffin’s Citadel Investment Group.
As industrywide interest jumped, some big names were leading the bulls’ herd. Stevens Capital Management, managed by Matthew Tewksbury, assembled the most outsized position in Caterpillar Inc. (NYSE:CAT). Stevens Capital Management had 39.5 million invested in the company at the end of the quarter. Michael Platt and William Reeves’s BlueCrest Capital Mgmt. also made a $17.4 million investment in the stock during the quarter. The other funds with brand new CAT positions are John Fichthorn’s Dialectic Capital Management, Matt Sirovich and Jeremy Mindich’s Scopia Capital, and Bart Baum’s Ionic Capital Management.
What do corporate executives and insiders think about Caterpillar Inc. (NYSE:CAT)?
Bullish insider trading is particularly usable when the company in focus has experienced transactions within the past 180 days. Over the latest 180-day time frame, Caterpillar Inc. (NYSE:CAT) has experienced zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).
Let’s go over hedge fund and insider activity in other stocks similar to Caterpillar Inc. (NYSE:CAT). These stocks are Terex Corporation (NYSE:TEX), AGCO Corporation (NYSE:AGCO), Joy Global Inc. (NYSE:JOY), CNH Global NV (ADR) (NYSE:CNH), and Deere & Company (NYSE:DE). This group of stocks are in the 0 industry and their market caps are similar to CAT’s market cap.