(NYSE: CAT) stock is down almost 14% from its all-time high, presenting a potential entry point for long-term investors. The question remains: Is now the right time to seize this opportunity? Here's what you need to know before considering a position.

Although it may be seen as an old-economy stock, Caterpillar might surprise many investors due to its exposure to a couple of new economy themes. The first is the energy transition and its impact on Caterpillar sales, and the second is its use of technology (e-commerce and digital capability) to grow its less cyclical services revenue.

Both elements are critical components of the investment case for the stock.

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Source Fool.com