Jim Cramer Calls Former Caterpillar CEO Jim Umpleby a “Visionary”

Caterpillar Inc. (NYSE:CAT) is one of the stocks Jim Cramer recently discussed. Cramer highlighted the company’s “star divisions” during the episode. He commented:

“Today, Caterpillar reported. The stock shot up more than 11%. Why? You know why? Because previous CEO Jim Umpleby decided that he was going to make that company perennially cyclical, incredibly boom and bust into a secular growth story by emphasizing turbines and power equipment. And what were the star divisions? Turbines and power equipment. And that’s how you get a stock higher. The division that provides power, amazing, the one that he presided over. Sure, you need CAT construction equipment to build a ton of things, but you especially need power for the data center. Umpleby saw it coming. That man’s a visionary.”

Photo by Artem Podrez on Pexels

Caterpillar Inc. manufactures and sells construction, mining, and energy equipment, including engines, turbines, and locomotives. Additionally, the company provides financial services, fleet management, parts and services.

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This article is originally published at Insider Monkey.