In this article we will take a look at the 5 best hardware stocks to buy now. For a detailed analysis of these stocks, go directly to the 10 Best Hardware Stocks to Buy Now.
5. Caterpillar Inc. (NYSE: CAT)
Number of Hedge Fund Holders: 53
Caterpillar Inc. (NYSE: CAT) is a Deerfield-based hardware firm that primarily makes machinery and engines for heavy industries. Some of the products that it develops and sells are asphalt pavers, compactors, cold planers, pipelayers, road reclaimers, and telehandlers, among others. Caterpillar also has a clothing and workwear boots line that it markets under its name. The firm also serves the defense sectors in the US, Britain, and the Middle East. It provides the United Kingdom military with diesel engines and combat engineering tanks.
Caterpillar Inc. (NYSE: CAT) was founded in 1925 and comes in at fifth place on our list of 10 best hardware stocks to buy now. On April 1, analysts at financial services firm Evercore rated Caterpillar stock as Outperform with a price target of $240. The share price of the machinery maker jumped more than 1.3% after the ratings update.
Out of the hedge funds being tracked by Insider Monkey, Washington-based firm Bill & Melinda Gates Foundation Trust is a leading shareholder in the firm with 11.2 million shares worth more than $2 billion.