5 Best Dividend Stocks to Buy According to Cathie Wood

4. Caterpillar Inc. (NYSE: CAT)

Number of Hedge Fund Holders: 53

Dividend Yield: 1.74%  

Caterpillar Inc. (NYSE: CAT) is an Illinois-based company that makes and sells machinery, engines, and financial products. It was founded in 1925 and is ranked fourth on our list of 10 best dividend stocks to buy according to Cathie Wood. Caterpillar stock has returned more than 96% to investors over the past year. ARK Investment owns 381,967 shares in the company worth over $88 million, representing 0.17% of their portfolio. Caterpillar stock has soared in recent weeks amid speculation around increased government spending on public infrastructure. 

On April 29, Caterpillar Inc. (NYSE: CAT) stock jumped close to 1.6% as the firm posted strong earnings results for the first quarter of 2021, reporting net income rose to $1.53 billion or $2.77 per share, compared to just over $1 billion over the same period in the previous year. 

At the end of the first quarter of 2021, 53 hedge funds in the database of Insider Monkey held stakes worth $4.9 billion in Caterpillar Inc. (NYSE: CAT)), the same as in the preceding quarter worth $4.1 billion.