Blackhawk Capital Partners LLC. Makes New Investment in Caterpillar Inc. (NYSE:CAT)

Blackhawk Capital Partners LLC. bought a new stake in shares of Caterpillar Inc. (NYSE:CAT) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,628 shares of the industrial products company’s stock, valued at approximately $1,197,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. NTV Asset Management LLC grew its holdings in Caterpillar by 5.4% during the 1st quarter. NTV Asset Management LLC now owns 1,059 shares of the industrial products company’s stock valued at $349,000 after buying an additional 54 shares in the last quarter. Garrett Wealth Advisory Group LLC raised its holdings in Caterpillar by 87.1% in the first quarter. Garrett Wealth Advisory Group LLC now owns 2,751 shares of the industrial products company’s stock worth $907,000 after purchasing an additional 1,281 shares in the last quarter. Investment Partners LTD. increased its holdings in shares of Caterpillar by 7.6% during the first quarter. Investment Partners LTD. now owns 3,685 shares of the industrial products company’s stock valued at $1,215,000 after acquiring an additional 260 shares in the last quarter. Consolidated Capital Management LLC increased its holdings in shares of Caterpillar by 6.5% during the first quarter. Consolidated Capital Management LLC now owns 10,246 shares of the industrial products company’s stock valued at $3,379,000 after acquiring an additional 626 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Caterpillar by 11.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 2,683 shares of the industrial products company’s stock valued at $885,000 after acquiring an additional 282 shares in the last quarter. Institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, Director David Maclennan bought 375 shares of Caterpillar stock in a transaction on Wednesday, May 7th. The shares were bought at an average price of $320.70 per share, with a total value of $120,262.50. Following the acquisition, the director directly owned 6,653 shares in the company, valued at approximately $2,133,617.10. This represents a 5.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Caterpillar Price Performance

Shares of NYSE CAT opened at $391.54 on Tuesday. Caterpillar Inc. has a 1-year low of $267.30 and a 1-year high of $418.50. The business has a 50-day moving average of $353.66 and a 200-day moving average of $346.92. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.32 and a quick ratio of 0.77. The company has a market capitalization of $184.43 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.64 and a beta of 1.38.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.10). The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.64 billion. Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $5.60 EPS. On average, equities analysts anticipate that Caterpillar Inc. will post 19.86 EPS for the current fiscal year.

Caterpillar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Monday, July 21st will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, July 21st. This is an increase from Caterpillar’s previous quarterly dividend of $1.41. Caterpillar’s dividend payout ratio (DPR) is currently 29.43%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAT shares. Oppenheimer upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating and set a $395.00 target price for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on Caterpillar from $490.00 to $380.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Evercore ISI decreased their price objective on Caterpillar from $375.00 to $373.00 and set an “in-line” rating for the company in a research note on Monday, May 19th. Baird R W raised Caterpillar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Citigroup restated a “buy” rating and issued a $420.00 price target (up from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Caterpillar currently has an average rating of “Moderate Buy” and an average price target of $380.83.

Caterpillar Profile

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.