10 Value Stocks in Ken Fisher’s Portfolio

3. Caterpillar Inc. (NYSE:CAT)

Fisher Asset Management Equity Stake: $3.29 Billion

Forward P/E Ratio as of April 17: 14.64

Number of Hedge Holders: 62

Caterpillar Inc. (NYSE:CAT) is an industrial company that provides a wide range of products and services related to construction, mining, and industrial industries. It manufactures and sells heavy machinery like tractors, trucks, loaders, excavators, etc. It is a solid value stock in Ken Fisher’s portfolio due to its strong position in the construction and mining equipment industry. In addition, the stock rewards investors with a 1.94% dividend yield.

On April 16, Morgan Stanley upgraded the stock to an Equalweight with a $283 price target following a significant decline. Caterpillar Inc. (NYSE:CAT) has come under immense pressure amid growing concerns about the US nonresidential construction market outlook. Amid the concerns, the company has conducted significant management changes as it looks to reinvigorate its fortunes.

Chief Executive Officer Jim Umpleby is poised to become the Executive Chairman as Chief Operating Officer Joe Creed takes over as CEO. Creed’s appointment as CEO underscores Caterpillar’s focus on differentiation through large machines and integrated power solutions. As Caterpillar Inc. (NYSE:CAT) begins its next century of operations, stability is anticipated due to his knowledge of the company’s strategic direction and the continuity of leadership.