Blackhawk Capital Partners LLC Reduces Holdings in Caterpillar Inc. $CAT

Blackhawk Capital Partners LLC trimmed its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 26.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,775 shares of the industrial products company’s stock after selling 654 shares during the quarter. Blackhawk Capital Partners LLC’s holdings in Caterpillar were worth $1,258,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Illinois Municipal Retirement Fund boosted its stake in shares of Caterpillar by 8.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,038 shares of the industrial products company’s stock worth $19,155,000 after acquiring an additional 2,025 shares during the last quarter. Three Seasons Wealth LLC increased its stake in shares of Caterpillar by 24.8% in the 1st quarter. Three Seasons Wealth LLC now owns 1,485 shares of the industrial products company’s stock worth $1,052,000 after purchasing an additional 295 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Caterpillar by 39,253.7% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,135 shares of the industrial products company’s stock worth $11,431,000 after purchasing an additional 16,094 shares during the period. MASTERINVEST Kapitalanlage GmbH lifted its position in Caterpillar by 2.1% during the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 5,248 shares of the industrial products company’s stock valued at $3,718,000 after purchasing an additional 109 shares in the last quarter. Finally, NFSG Corp increased its position in Caterpillar by 135.3% in the first quarter. NFSG Corp now owns 1,346 shares of the industrial products company’s stock worth $953,000 after buying an additional 774 shares in the last quarter. 70.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $900.00 price objective on shares of Caterpillar in a research report on Tuesday, June 2nd. Jefferies Financial Group raised their price objective on shares of Caterpillar from $900.00 to $1,045.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Daiwa Securities Group lifted their target price on shares of Caterpillar from $790.00 to $900.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Robert W. Baird increased their price target on Caterpillar from $1,165.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Finally, Argus raised their price target on Caterpillar from $820.00 to $990.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $980.57.

Insider Activity at Caterpillar

In other news, CAO William E. Schaupp sold 360 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $906.00, for a total value of $326,160.00. Following the sale, the chief accounting officer directly owned 530 shares in the company, valued at $480,180. The trade was a 40.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Anthony D. Fassino sold 16,283 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $916.80, for a total transaction of $14,928,254.40. Following the completion of the transaction, the insider directly owned 46,041 shares of the company’s stock, valued at approximately $42,210,388.80. The trade was a 26.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,773 shares of company stock valued at $87,642,635 over the last quarter. 0.33% of the stock is currently owned by insiders.

Caterpillar Price Performance

NYSE:CAT opened at $914.19 on Thursday. The business’s 50-day moving average is $931.98 and its 200 day moving average is $790.77. Caterpillar Inc. has a 12 month low of $403.32 and a 12 month high of $1,073.46. The company has a market capitalization of $421.07 billion, a P/E ratio of 45.50, a P/E/G ratio of 1.83 and a beta of 1.57. The company has a current ratio of 1.35, a quick ratio of 0.81 and a debt-to-equity ratio of 1.64.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $5.54 earnings per share for the quarter, beating the consensus estimate of $4.65 by $0.89. The business had revenue of $17.41 billion during the quarter, compared to analysts’ expectations of $16.53 billion. Caterpillar had a return on equity of 48.21% and a net margin of 13.33%.The firm’s revenue for the quarter was up 22.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.25 EPS. On average, equities research analysts forecast that Caterpillar Inc. will post 24.85 earnings per share for the current fiscal year.

Caterpillar Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Monday, July 20th will be given a $1.63 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, July 20th. Caterpillar’s dividend payout ratio (DPR) is presently 30.06%.

Caterpillar Company Profile

Caterpillar Inc is a global manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and locomotives. The company’s product portfolio includes earthmoving machines such as excavators, bulldozers, wheel loaders and off‑highway trucks, as well as a range of power generation products including generator sets and power systems for industrial and commercial use. Caterpillar serves customers across heavy construction, mining, energy, transportation and related industries with both equipment and integrated technology solutions.

In addition to manufacturing, Caterpillar provides a broad range of aftermarket parts and support services, including maintenance, repair, remanufacturing and fleet management tools.