Caterpillar authorized a new share repurchase authorization of $15 billion, equivalent to about 13% of the company's market capitalization.
Shares of Caterpillar Inc. rallied 2.1% in premarket trading Tuesday, after the construction and mining equipment company said its board of directors had recently approved a new $15 billion stock repurchase program. Based on Monday's stock closing price of $207.19, the new buyback program could represent about 72.4 million shares, or 13.6% of the shares outstanding as of March 31. Caterpillar said in its first-quarter earnings report on April 28 that it repurchased $800 million worth of its shar
Caterpillar Inc. (NYSE: CAT) is hosting its Investor Day centered around the theme of services, technology and sustainability. The leadership team will provide details on the company's achievements, priorities and opportunities including: