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NEW YORK ( TheStreet) -- Caterpillar (NYSE: CAT) hit a new 52-week high Friday as it is currently trading at $116.74, above its previous 52-week high of $116.55 with 557,318 shares traded as of 10:05 a.m. ET. Average volume has been 7.8 million shares over the past 30 days. Caterpillar has a market cap of $68.73 billion and is part of the industrial goods sector and industrial industry. Shares are up 28.3% year to date as of the close of trading on Thursday. Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. It operates through three lines of businesses: Machinery, Engines, and Financial Products. The company has a P/E ratio of 15.7, below the average industrial industry P/E ratio of 16.3 and below the S&P 500 P/E ratio of 17.7.