Caterpillar Inc. (NYSE:CAT) is one of the best manufacturing stocks to invest in now. On February 17, Caterpillar Inc. (NYSE:CAT) confirmed the acquisition of RPMGlobal Holdings Limited. The acquisition of the Australian-based mining software company is poised to expand the company’s portfolio of data-driven mining technology.
Caterpillar Inc. gains access to crucial software solutions that can help customers plan, operate, and manage mining sites more efficiently. RPMGlobal offers data-driven solutions across the various mining value chains to help mining companies address daily challenges.
“By combining RPMGlobal’s software capabilities with Caterpillar’s proven equipment and technology solutions, we will unlock new opportunities to help customers improve mine site performance, while advancing the future of mining technology in a way that is practical, scalable and grounded in their needs,” said Denise Johnson, group president, Caterpillar Resource Industries.
The acquisition comes on the heels of Caterpillar reporting record fourth-quarter sales of $19.1 billion. The increase was driven by strong demand for construction, mining, and power equipment, even as tariff uncertainty affected manufacturing costs. Similarly, the company entered the New Year with a record backlog and strong momentum.
Caterpillar Inc. (NYSE:CAT) is the world’s leading manufacturer of construction and mining equipment, diesel-electric locomotives, industrial gas turbines, and diesel/natural gas engines. It provides machinery, technology, and financing solutions for industries including infrastructure, energy, and resources.
While we acknowledge the potential of CAT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 11 AI Stocks That Will Go to the Moon and 11 High-Growth Industrial Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
