Barnes Dennig Private Wealth Management LLC Makes New $1.05 Million Investment in Caterpillar Inc. (NYSE:CAT)

Barnes Dennig Private Wealth Management LLC acquired a new stake in Caterpillar Inc. (NYSE:CAT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,174 shares of the industrial products company's stock, valued at approximately $1,047,000. Caterpillar makes up 1.6% of Barnes Dennig Private Wealth Management LLC's holdings, making the stock its 20th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Caterpillar by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 46,809,540 shares of the industrial products company's stock worth $16,980,629,000 after purchasing an additional 284,366 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Caterpillar by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 10,449,770 shares of the industrial products company's stock worth $3,790,841,000 after purchasing an additional 236,315 shares in the last quarter. Northern Trust Corp increased its position in shares of Caterpillar by 11.8% during the fourth quarter. Northern Trust Corp now owns 6,847,330 shares of the industrial products company's stock worth $2,483,937,000 after purchasing an additional 724,477 shares in the last quarter. Norges Bank purchased a new stake in shares of Caterpillar during the fourth quarter worth approximately $2,184,364,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Caterpillar by 8.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,940,391 shares of the industrial products company's stock worth $1,429,416,000 after purchasing an additional 312,878 shares in the last quarter. 70.98% of the stock is currently owned by hedge funds and other institutional investors.

Caterpillar Trading Up 0.0%

Shares of Caterpillar stock traded up $0.08 during trading hours on Thursday, hitting $398.51. The company's stock had a trading volume of 1,735,374 shares, compared to its average volume of 2,701,864. Caterpillar Inc. has a twelve month low of $267.30 and a twelve month high of $418.50. The firm has a fifty day moving average of $348.25 and a 200-day moving average of $346.65. The stock has a market cap of $187.71 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.60 and a beta of 1.38. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.77 and a current ratio of 1.32.

Caterpillar (NYSE:CAT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $4.25 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.10). Caterpillar had a net margin of 15.71% and a return on equity of 53.77%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the company earned $5.60 EPS. The business's revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts forecast that Caterpillar Inc. will post 19.86 EPS for the current year.

Caterpillar Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, July 21st will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, July 21st. This is an increase from Caterpillar's previous quarterly dividend of $1.41. Caterpillar's payout ratio is currently 27.49%.

Analysts Set New Price Targets

Several analysts recently commented on the company. DA Davidson boosted their price target on Caterpillar from $325.00 to $331.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. lowered their price objective on Caterpillar from $490.00 to $380.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citigroup reissued a "buy" rating and set a $420.00 price objective (up previously from $370.00) on shares of Caterpillar in a research note on Tuesday, June 24th. Evercore ISI lowered their price objective on Caterpillar from $375.00 to $373.00 and set an "in-line" rating on the stock in a research note on Monday, May 19th. Finally, Robert W. Baird boosted their price objective on Caterpillar from $395.00 to $422.00 and gave the stock an "outperform" rating in a research note on Friday, June 20th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Caterpillar presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.83.

Insider Activity

In other news, Director David Maclennan acquired 375 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average price of $320.70 per share, for a total transaction of $120,262.50. Following the acquisition, the director owned 6,653 shares of the company's stock, valued at $2,133,617.10. This represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company's stock.

About Caterpillar

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.