Caterpillar Inc. (NYSE:CAT) was upgraded by research analysts at Vertical Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, AnalystRatings.Net reports.
Other large investors recently added to or reduced their stakes in the company. Harris Associates L P increased its stake in Caterpillar by 5.6% in the fourth quarter. Harris Associates L P now owns 17,099,572 shares of the company’s stock worth $1,162,087,000 after buying an additional 907,268 shares in the last quarter. Morgan Stanley increased its stake in Caterpillar by 3.4% in the fourth quarter. Morgan Stanley now owns 5,189,763 shares of the company’s stock worth $352,697,000 after buying an additional 172,000 shares in the last quarter. American International Group Inc. increased its stake in Caterpillar by 1,064.9% in the fourth quarter. American International Group Inc. now owns 5,112,977 shares of the company’s stock worth $347,478,000 after buying an additional 4,674,053 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Caterpillar by 61.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,543,333 shares of the company’s stock worth $240,813,000 after buying an additional 1,346,344 shares in the last quarter. Finally, Norges Bank bought a new stake in Caterpillar during the fourth quarter worth approximately $172,945,000.
Source: American Banking and Market News