Tyche Wealth Partners LLC Purchases 31 Shares of Caterpillar Inc. $CAT

Tyche Wealth Partners LLC boosted its position in Caterpillar Inc. (NYSE:CAT) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 7,440 shares of the industrial products company’s stock after buying an additional 31 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Caterpillar were worth $2,888,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. GSB Wealth Management LLC increased its position in Caterpillar by 1.2% during the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after buying an additional 26 shares during the period. Verum Partners LLC increased its position in Caterpillar by 2.5% during the 2nd quarter. Verum Partners LLC now owns 1,059 shares of the industrial products company’s stock worth $411,000 after buying an additional 26 shares during the period. Vanguard Capital Wealth Advisors increased its position in Caterpillar by 0.8% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 3,575 shares of the industrial products company’s stock worth $1,388,000 after buying an additional 27 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Caterpillar by 2.4% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,216 shares of the industrial products company’s stock worth $472,000 after buying an additional 29 shares during the period. Finally, McAdam LLC increased its position in Caterpillar by 1.6% during the 2nd quarter. McAdam LLC now owns 1,872 shares of the industrial products company’s stock worth $727,000 after buying an additional 29 shares during the period. Institutional investors own 70.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAT has been the topic of several recent research reports. Citigroup reiterated a “buy” rating on shares of Caterpillar in a research report on Tuesday, September 23rd. Melius upgraded Caterpillar from a “hold” rating to a “buy” rating and set a $500.00 price objective on the stock in a research report on Wednesday, July 9th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Caterpillar in a report on Saturday, September 27th. Finally, Evercore ISI raised Caterpillar from an “in-line” rating to an “outperform” rating and set a $476.00 price objective for the company in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $466.53.

Insider Transactions at Caterpillar

In other news, Chairman Donald J. Umpleby III sold 17,168 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $412.87, for a total transaction of $7,088,152.16. Following the completion of the transaction, the chairman owned 482,505 shares of the company’s stock, valued at approximately $199,211,839.35. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan C. Schwab sold 2,324 shares of the business’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $410.00, for a total value of $952,840.00. Following the transaction, the director directly owned 6,917 shares of the company’s stock, valued at $2,835,970. This trade represents a 25.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,819 shares of company stock valued at $16,885,492. Corporate insiders own 0.33% of the company’s stock.

Caterpillar Price Performance

Shares of NYSE CAT opened at $495.80 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.34 and a quick ratio of 0.81. Caterpillar Inc. has a fifty-two week low of $267.30 and a fifty-two week high of $505.59. The stock has a market capitalization of $232.27 billion, a PE ratio of 25.22, a P/E/G ratio of 3.03 and a beta of 1.46. The business has a fifty day moving average price of $438.25 and a two-hundred day moving average price of $380.18.

Caterpillar (NYSE:CAT) last posted its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $4.72 EPS for the quarter, missing analysts’ consensus estimates of $4.88 by ($0.16). Caterpillar had a return on equity of 48.95% and a net margin of 14.95%.The business had revenue of $16.57 billion for the quarter, compared to analyst estimates of $16.14 billion. During the same period last year, the firm posted $5.99 EPS. Caterpillar’s quarterly revenue was down .7% on a year-over-year basis. As a group, equities analysts predict that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Monday, October 20th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.2%. Caterpillar’s payout ratio is 30.72%.

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.