Are Caterpillar’s Major Shareholders Worried About Disgruntled Union Workers?
As the fifth month of trading comes to a close in 2012, Caterpillar Inc.’s (NYSE:CAT) shares are lower .25 percent. On Wednesday, striking Caterpillar workers in suburban Chicago will vote on an amended contract proposal. The company has described it as “slightly modified” version of an offer that International Association of Machinist and Aerospace Workers members previously rejected, reported The Wall Street Journal.
A Closer Look: Caterpillar Earnings Cheat Sheet>>
The strike came after 500 members of the machinist union saw their contract expire on May 1. The workers have complained that from Caterpillar’s six-year contract proposal, veteran workers would endure frozen hourly wages; seniority rights would be affected and costs for health-care insurance would rise.
With Caterpillar’s disgruntled workers and the company running business as usual with non-striking workers, will the company’s largest shareholders cut their positions? 1030 institutional firms indicated owning shares of Caterpillar Inc. (NYSE:CAT) in Q1 2012. These firms reported owning a total of 349.942 million shares on 03/31/2012 . The shares closed at $106.07 on 03/31/2012.
Here are the ten largest positions in Caterpillar Inc. at the end of March 31st, 2012.
State Street Corp held 71,313,568 shares on 03/31/2012 worth $7,596,321,024.
Vanguard Group Inc held 30,863,961 shares on 03/31/2012 worth $3,287,629,022.
State Farm Mutual Automobile Insurance Co held 19,707,800 shares on 03/31/2012 worth $2,099,274,790.
Blackrock Institutional Trust Company N.A. held 16,215,544 shares on 03/31/2012 worth $1,727,279,692.
Fmr LLC held 14,562,407 shares on 03/31/2012 worth $1,551,187,545.
Bank of New York Mellon Corp held 10,535,918 shares on 03/31/2012 worth $1,122,285,950.
Tiaa Cref Investment Management LLC held 5,828,657 shares on 03/31/2012 worth $620,868,524.
Primecap Management Co/CA/ held 5,528,951 shares on 03/31/2012 worth $588,943,842.
Blackrock Fund Advisors held 5,104,206 shares on 03/31/2012 worth $543,700,006.
JPMorgan Chase & Co held 4,973,340 shares on 03/31/2012 worth $529,760,160.
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