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4-Traders Homepage  >  Equities  >  Nyse  >  Caterpillar Inc.    CAT

Delayed Quote. Delayed  - 10/21 10:01:28 pm
86.33 USD   -0.35%
10/21 CATERPILLAR : expands digital operations with first permanent office..
10/20CATERPILLAR INC : quaterly earnings release
10/20 CATERPILLAR : ex-dividend day
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Caterpillar : expands digital operations with first permanent office in Chicago

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10/21/2016 | 10:17am CEST

Oct. 21--PEORIA -- Caterpillar Inc. will open its first permanent office in Chicago -- a "Digital and Analytics Hub" that expands upon operations and services currently housed near the company's world headquarters in Downtown Peoria.

The 5,000-square-foot office is expected to house 45 employees and will be located in the Merchandise Mart, the world's largest commercial building at 25 stories and 4.2 million gross square feet of space.

The complex, also known as theMART and located on the Chicago River, is a center for business, fashion and industry that includes showrooms and offices for private firms and government agencies.

Caterpillar made the announcement as part of Chicago Ideas Week, during which it participated in a "Dirt & Digital" lab to demonstrate the innovation and technology being incorporated into the heavy equipment it manufactures.

"Many of the attendees at our Chicago Ideas labs may only think of Caterpillar as the company who makes big yellow iron seen on the side of the highway," said Henry Vicary, Caterpillar's director of guest and community relations. "Our 'Dirt & Digital' labs are the perfect way for us to showcase that Caterpillar shares Chicago Idea's overall vision, keenly focused on technology, innovation and a future that will transform the world."

Caterpillar debuted its Analytics and Innovation Division in April 2015, co-locating some employees with startup firm Uptake in Chicago at the time to engineer data processing systems that take information from sensors embedded in heavy equipment and relay it to Caterpillar dealers and others.

Among services offered out of Caterpillar Building LC across the street from Dozer Park in Downtown Peoria are real-time updates on operator fatigue gleaned from facial recognition systems in the cabs of heavy equipment.

The Analytics and Innovation Division was folded into the Marketing and Digital Division as part of the restructuring announced in the fall of 2015.

Most employees in the division will remain in Peoria, according to the company.

"Caterpillar already has a presence in Chicago through our work with several universities and tech companies, so opening a permanent and centralized space for our expanded analytics and digital team in the city made sense," said Morgan Vawter, Caterpillar's chief analytics director. "While Peoria continues to be Caterpillar's home, Chicago is an ideal location for continuing to cultivate and grow a diverse, creative digital and analytics work force."

Matt Buedel is the Journal Star business reporter. He can be reached at 686-3154 and mbuedel@pjstar.com. Follow him on Twitter @JournoBuedel.


(c)2016 the Journal Star (Peoria, Ill.)

Visit the Journal Star (Peoria, Ill.) at www.PJStar.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2016 39 946 M
EBIT 2016 2 966 M
Net income 2016 1 633 M
Debt 2016 20 710 M
Yield 2016 3,57%
P/E ratio 2016 30,27
P/E ratio 2017 25,81
EV / Sales 2016 1,78x
EV / Sales 2017 1,78x
Capitalization 50 437 M
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Caterpillar Inc. Technical Analysis Chart | CAT | US1491231015 | 4-Traders
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Mean consensus HOLD
Number of Analysts 25
Average target price 79,6 $
Spread / Average Target -7,8%
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Douglas R. Oberhelman Chairman & Chief Executive Officer
Bradley M. Halverson Group President & Chief Financial Officer
Julie A. Lagacy Vice President-Global Information Services
William A. Osborn Independent Director
Edward Barry Rust Independent Director
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