Hedge Funds Pile into Caterpillar as Industrial Stocks Soar
Independent Financial Group LLC increased its stake in Caterpillar Inc. by 55.6% during the second quarter, according to its latest SEC filing.
The firm purchased an additional 6,490 shares of CAT stock, bringing its total holdings to 18,157 shares worth $19,336,000 at the end of the quarter.
This is not an isolated instance, as several other hedge funds have also boosted their positions in Caterpillar during this period. First Merchants Corp increased its holdings by 3.0%, Tompkins Financial Corp by 5.2%, and Secure Asset Management LLC by 1.3%.