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.
TheStreet Ratings rates Caterpillar as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Caterpillar Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.