By the BullMarket.com Staff
Heavy equipment makers enjoyed a robust 2007, buoyed by strong international demand for engines, tractors, bulldozers, and other machines needed in the construction and agriculture sectors. The big question today for heavy equipment makers is whether the economic clouds gathering in the U.S. will spread overseas and crimp demand for their products.
Despite the struggling housing market hurting demand for construction domestically, the agriculture, mining, and energy sectors, driven by robust commodity prices, have kept heavy equipment stocks on the rise over the last year.
More than a few Pro investors had stakes in heavy equipment makers in 2007. In particular, RH Bluestein & Co, an investment advisor with about $2.6 billion in assets under management as of July 2007, counted a pair of heavy equipment companies among its top-15, U.S.-listed equity holdings at the end of Q3. During Q3, the firm increased its stakes in both Caterpillar (NYSE: CAT - News) and Deere (NYSE: DE - News).
Deere wasn't the only agricultural stock in Bluestein's portfolio. The firm's largest equity holdings at the end of Q3 were in fertilizer firm Potash (NYSE: POT - News) and seed giant Monsanto (NYSE: MON - News). A list of the equities among Bluestein's top holdings is available at tickerspy.com.
The most popular heavy equipment stock among the Pros is Caterpillar, with 38 investment firms holding the stock at the end of Q3. Among the stock's biggest institutional holders was State Farm Mutual Automobile Insurance with 19.6 million shares. Caterpillar is also the favorite heavy equipment company among tickerspy.com members. Heavy equipment stocks also popular among tickerspy members include Cummins (NYSE: CMI - News) and CNH Global (NYSE: CNH - News).
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