Caterpillar (NYSE:CAT) Is one of the world's top construction stocks. The stock has recently backed off amid concerns about slowing growth. However, the impending infrastructure bill could the catalyst for another leg higher.Caterpillar (CAT) is famous for its yellow construction machines. The company is the world’s largest maker of construction and mining equipment. CAT’s vehicles and machines are used by construction, infrastructure, mining, oil, gas, and other businesses.
CAT has dipped more than 10% in the past month amid concerns that the economic expansion going to start slowing. There was also some profit-taking amid the Fed's more hawkish than anticipated statement.
Is CAT worth buying on the dip? Let’s take a closer look at the stock to determine if its current price is a good entry point.