In April, Umpleby authorized the relocation of Caterpillar's corporate headquarters from Peoria, Ill. to Deerfield, Ill. The new headquarters currently has about 100 employees and expects to add another 200 by mid-2018.

Caterpillar CEO Jim Umpleby has been hard at work transforming the equipment giant since he took over the position in January, and it's showing.

First, the numbers.

Caterpillar believes its projected annual sales and revenue for 2017 will be somewhere between $42 and $44 billion—better than its initial prediction of $38 to $41 billion. Because of this, Caterpillar's share price is expected to jump to $5 per share for 2017, higher than the company's initial expectation of $3.75 per share, the Chicago Tribune reported. On Wall Street, the company's stock price comes in around $124 per share. For comparison, when Umpleby first started in his new role, the price was $83 per share.

Big Changes

Since 2015, Caterpillar has been working to reduce costs companywide, and some recent projects highlight its efforts, the Chicago Tribune reported, including in April, Umpleby authorized the relocation of Caterpillar's corporate headquarters from Peoria, Ill. to Deerfield, Ill. The new headquarters currently has about 100 employees and expects to add another 200 by mid-2018.

Bigger Expectations

What's more, recent indicators in the U.S. and China suggest Caterpillar could see an influx of prospects coming up, the Chicago Tribune reported:

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