Caterpillar (CAT) - Get Report may be going through tough times of late, but the machine maker's commitment to the community, its employees and the environment make it a smart long-term stock to hold, said Bruce Piasecki, author of "New World Companies.

Piasecki named Caterpillar as one of his New World Companies despite its slumping sales and stock price in the past year. The construction and mining equipment-maker's shares have lost 25% in the past 12 months. Caterpillar said in September it would cut as many as 10,000 jobs through 2018.

On Thursday, Caterpillar reported a quarterly loss of $87 million, or 15 cents per share, compared with a profit of $757 million, or $1.23 per share, last year. Total revenue fell to $11.03 billion in the fourth quarter, from $14.24 billion a year ago.

"While it continues to champion environmental sustainability through the development of efficient engines and machines, as well as advanced farm-related software, it has never lost sight of the fact that in the end, it is the people who matter," writes Piasecki.

Piasecki is the president and founder of AHC Group, a management consulting firm. He is the author of 10 books on business policy including "Doing More With Less." 

Piasecki also classifies Toyota (TM) - Get Report as being a New World Company primarily because of the automaker's inventiveness, frugality and its ability to improve a supply chain.

"Toyota's willingness to listen to social needs and then respond incisively is what has made the company a force for good," according to Piasecki.

Piasecki also names FedEx (FDX) - Get Report and Suncor Energy (SU) - Get Report as companies to own for the long run. And while Suncor is a Canadian oil sands driller, he said it's improving its efficiency when it comes to carbon output.

"They also bought Petro-Canada in record time, so they are truly global and not totally dependent on oil sands like their competitors," said Piasecki.