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Savvy Advisors Inc. significantly increased its position in Caterpillar Inc. (CAT) by 49.2% during the fourth quarter. The investment firm's total stake in the industrial giant is now valued at approximately $5.142 million. This strategic move follows Caterpillar's robust financial performance, where it comfortably exceeded market expectations. For the fourth quarter, the company reported an earnings per share (EPS) of $5.16 on revenues totaling $19.13 billion. Institutional support remains high for the company, with institutional ownership currently standing at nearly 71%. Analysts view the increased stake as a bullish signal, supported by strong fundamentals and subsequent price target upgrades.
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