Blue chip powerhouse (NYSE: CAT) boasts a 29-year track record of increasing dividend payouts, a testament to its robust business and cash management. Today, the stock is trading near all-time highs after a strong year.

However, its strong performance also means the stock trades near a high valuation. With the stock near its peak, is this still a good buying opportunity today? Let's delve deeper to understand the business before deciding if Caterpillar belongs in your portfolio.

Caterpillar has been a dominant player in the heavy machinery industry for nearly a century. The company designs and manufactures heavy machinery crucial for construction, energy, mining, and transportation and is one of the world's top construction equipment suppliers and manufacturers.

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Source Fool.com