I’d say it’s the recovery from when it was a $25 stock in early 2009 that is the reason for present valuation. If moving some execs to Chicago keep that trend going, no question the shareholders and analysts will reward them for doing this move.
Their stock buy-back program and the fact that Cat is still the darling on institutional investors (i.e. pension funds) probably contributes also.
It’s hard to argue with success but still...
BTW, are you any relation to Big Jake?