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.”

Caterpillar Inc. (NYSE:CAT) 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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Disclosure: None. This article is originally published at Insider Monkey.