Caterpillar 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 (CAT) 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 $0.15 cents a share, compared with a profit of $757 million, or $1.23 a share, last year. Total sales and revenue fell to $11.03 billion in the fourth quarter, from $14.24 billion a year ago.
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