Jim Cramer Is Focused on These 15 Stocks This Week

6. Caterpillar Inc. (NYSE:CAT)

Cramer commented that Caterpillar Inc. (NYSE:CAT) is a great stock to buy when the Fed’s cutting rates. He said:

“Tuesday also has got a Caterpillar analyst meeting. I think it can be bought. Caterpillar’s just pulled back from $418 to $384, where I like it very much. Great Fed rate cut stock. Maybe buy some CAT here and then buy some more if the meeting doesn’t excite people.”

Caterpillar (NYSE:CAT) is a global leader in the manufacturing and sale of heavy equipment and machinery, specializing in sectors such as construction, mining, and transportation. For the third quarter of fiscal 2024, it reported sales and revenues of $16.1 billion, reflecting a 4% decline from the $16.8 billion reported in the same period of 2023.

This decrease was largely attributed to lower sales volume, which impacted overall performance. Despite the drop in sales, the company reported an adjusted profit per share of $5.17, which met the expectations set during its previous earnings call. Although the company faced challenges in certain areas, its Energy & Transportation segment performed notably well during the quarter. This segment saw a 5% increase in sales and a substantial 21% rise in profits.

Additionally, Caterpillar’s (NYSE:CAT) backlog, which represents the value of orders yet to be fulfilled, showed a slight increase, reaching $28.7 billion. This backlog remains at a healthy level, reflecting continued demand for Caterpillar’s products and services.