Will Caterpillar’s Top Institutional Shareholders Be Satisfied By This Plan?
Caterpillar (NYSE:CAT): The construction giant has announced that it has entered a definitive agreement with Citibank to buy back $1 billion worth of its common stock as apart of its accelerated stock repurchase program. The program is anticipated to be completed in June, and Caterpillar will immediately acquire 11 million shares at market prices.
These institutional firms indicated owning shares of Caterpillar Inc. in Q1 2013. They reported owning a total of 115.669 million shares on 03/31/2013. The shares closed at $86.41 on 03/31/2013.