CNBC's Jim Cramer said Tuesaday he sees a Wall Street analyst downgrade of heavy equipment maker Caterpillar as a "ring the register call." CAT 1Y mountain CAT stock performance. Caterpillar, whose shares were up roughly 26% over a three-month period, reported "an amazing quarter," Cramer said. "When you downgrade Caterpillar, you're downgrading the king." But Cramer booked profits and exited the stock in January due to profitability concerns down the road.

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Persons: CNBC's Jim Cramer, Tuesaday, Evercore, Ingersoll Rand, TimkenSteel, Cramer Organizations: Caterpillar, Evercore ISI, Trust, CNBC