5 Best Performing Dow Stocks in 2022

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In this piece, we’ll take a look at the 5 Best Performing Dow Stocks in 2022. For more such companies, go to 15 Best Performing Dow Stocks in 2022.

5. Caterpillar Inc. (NYSE:CAT)

YTD Total Return as of December 25, 2022: 18.73%

Number of Hedge Fund Holders: 43

Headquartered in Illinois, United States, Caterpillar Inc. (NYSE:CAT) is one of the world’s largest manufacturers of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Caterpillar Inc. (NYSE:CAT)’s business is organized into three main segments: Construction Industries, Resource Industries, and Energy & Transportation.

On December 19, 2022, Stanley Elliott, an analyst at Stifel, increased his price target on Caterpillar Inc. (NYSE:CAT) to $271 while keeping a Buy rating on the stock. The analyst is anticipating late-cycle trends and a sluggish pace in housing. However, he believes that the non-residential sector will accelerate, and the overall price/cost situation will improve.

At the end of Q3 2022, 43 hedge funds in Insider Monkey’s database were long Caterpillar Inc. (NYSE:CAT). Bill & Melinda Gates Foundation Trust remained the leading stakeholder of the company at the end of Q3 2022.

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