Jim Cramer Says He Doesn’t “Want to Buy CAT”

Caterpillar Inc. (NYSE:CAT) is one of the stocks Jim Cramer commented on. Cramer mentioned the company during the episode and said:

“I like to look for stories that have been red hot, been, okay, that have suddenly cooled purely because of guilt by association. This morning, Morgan Stanley put the wood to Caterpillar, downgrading the stock from Hold to Sell because of worries about tariffs. Look, there are issues with CAT, but we already know them. The company reported last week, we know everything about it. Got the conference call. I don’t want to buy CAT even though it’ll get its fair share of reshoring orders.”

Jim Cramer Says He Doesn't "Want to Buy CAT"

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Caterpillar Inc. (NYSE:CAT) manufactures construction and mining machinery, engines, turbines, locomotives, and related components. The company also provides parts, maintenance, and digital solutions. When a caller inquired about the stock in April, asking if weak conditions in construction could affect the company’s performance, Cramer replied:

“You’re right, it’s not… and boy, Jim Umpleby retiring. Oh man, is he good. He’s the guy who really turned the company into a, into what I call a secular grower. That said, it’s not expensive, but you’re right, it may not be the time to own Caterpillar. It is a better, there may be a better season coming.”

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