Caterpillar is no longer a value investment; instead it was grossly overpriced at the $77.37 the shares were trading at on July 8, 2016. Despite the cash and float, Cat’s shares will take a major tumble if the next earnings report is as bad as the last one. The revenue and income declines indicate that the company’s 4.11% dividend yield and 7.84% return on equity are not sustainable. Instead expect both those numbers and Caterpillar’s share price to fall dramatically.