Caterpillar Inc. Chairman and CEO Jim Owens rang the closing bell on the New York Stock Exchange (NYSE) Thursday, Dec. 2, to mark the company’s 75th anniversary listing on the world’s foremost securities marketplace.
“Over the past 75 years, we’ve built a company that is as strong financially as the machines and engines we produce,” Owens said. “We are well positioned to be celebrating another landmark like this 75 years from now.”
In addition to ringing the closing bell, Caterpillar invited thousands of NYSE traders to enjoy a close up look at some of the diverse products that have spurred Caterpillar’s growth. A display in front of the exchange featured a 226 skid steer loader, an M318C wheeled excavator, and a Quad 900 kW generator similar to those that helped power the NYSE in the days following the Sept. 11, 2001 terrorist attacks and during the blackout in the summer of 2003. Cat Racing’s popular No. 22 NASCAR Nextel Cup show car also was on display.
Many consider a listing on the New York Stock Exchange listing as a globally recognized signal of strength and leadership. It is the largest equities marketplace in the world and home to more than 2,800 companies valued at approximately $18 trillion in global market capitalization. The NYSE list includes a cross-section of large, midsize and small capitalization companies that have met the NYSE’s stringent requirements including income, market capitalization, cash flow and ethical practices.
Caterpillar — 75 Years on the New York Stock Exchange
• The company was listed on Dec. 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 Company at $56.25 in 1929, that investment was worth $14,173.20 as of late November 2004, accounting for the nine stock splits over the past 75 years.
• Caterpillar has sustained an annual compounded growth rate of 7.65 percent each year since 1929.
• Caterpillar was admitted to the Dow 30 Stocks on May 6, 1991 replacing Navistar International Corporation.
• For the year 1929 the NYSE Average Daily Volume was 4,276,808 shares; the NYSE Domestic Market Capitalization was $64.5 billion.