Caterpillar Marks 75 Years on NYSE

Company displays equipment in front of the exchange.

Jonathan Katz

Published December 02, 2004

Caterpillar CEO Jim Owens will ring the closing bell at the New York Stock Exchange Thursday to mark the company’s 75th anniversary of the its listing on the NYSE.

 

CATERPILLAR - 75 Years on NYSE

  • The company was listed on December 2, 1929 under the name Caterpillar Tractor Company. That name was used from 1925 until 1986 when it was changed to Caterpillar Inc.
  • On the listing day in 1929; 1,882,240 shares were outstanding; 400 shares were traded; the closing price was $56.25; the Dow Jones Industrial Average was 241.70.
  • If an investor bought just one share of Caterpillar Tractor Co. at $56.25 in 1929, that investment would be worth $14,173.20* today accounting for the 9 stock splits over the past 75 years. (*As calculated at close Nov. 26, 2004)
  • Caterpillar has sustained an annual compounded growth rate of 7.65% each year since 1929.
  • Caterpillar was admitted to the Dow 30 Stocks on May 6, 1991 replacing Navistar International Corp.
  • For the year 1929 the NYSE Average Daily Volume was 4,276,808 shares; the NYSE Domestic Market Capitalization

“Over the past 75 years, we’ve built a company that is as strong financially as the machines and engines we produce,” Owens says. “We are well positioned to be celebrating another landmark like this 75 years from now.”

 

The company is also displaying some of its equipment, including a skid-steer loader and wheel excavator, in front of the exchange to give traders a close-up look of the its products.

 

In October, Caterpillar reported record sales and revenues of $7.65 billion for the third quarter of 2004 and a record profit of $498 million. Third-quarter sales and revenues were up 38 percent compared to the same period in 2003.

 

The increase in sales and revenues was driven by $1.83 billion of higher machinery and engines volume, $136 million of increased price realization, a $102 million favorable impact of currency on sales resulting from the strengthening euro and British pound and $41 million of higher financial products revenue.  

 

Caterpillar shares fell 45 cents to $92.20 in late morning trading on the exchange Thursday.

 

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