Jim Cramer Notes “Caterpillar Has Now Become a Smooth Secular Grower”

Caterpillar Inc. (NYSE:CAT) is one of the stocks in Jim Cramer’s game plan for this week. Cramer mentioned that he expects “one more good quarter” from the company. He said:

“The once erratic Caterpillar has now become a smooth secular grower thanks to former CEO now chairman, Jim Umpleby. We used to think the CAT was impossible to gain. Now, I’m telling you, I think it’ll print one more good quarter as it rides the tailwinds of infrastructure spending and reshoring in this country. I like it.”

Photo by Adam Nowakowski on Unsplash

Caterpillar (NYSE:CAT) designs and manufactures construction, mining, and energy equipment, including diesel engines, gas turbines, and locomotives. The company also provides financial, leasing, logistics, and digital services to support its machinery and global dealer network. During the July 15 episode, when a caller brought up the company and noted that housing could benefit from an economic rebound, Cramer responded:

“I think, you know what, I gotta tell you something… I mean, the primarily not housing, but you’re absolutely right. You have to have housing. Vulcan Materials is actually more of a play, as is Martin Marietta Materials. However, Caterpillar is an ancillary to that. Caterpillar’s done incredibly well this year. I will miss Jim Umpleby, who’s stepped up to chairman, but I think he left Caterpillar in the best hands I’ve ever seen the stock in. It’s a buy, and I think you will do quite well. Now, at this point, I would wait till after the quarter, which is August 5th. You don’t need to get ahead of it.”

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Disclosure: None. This article is originally published at Insider Monkey.