What Makes Deere & Company (DE) an Attractive Investment Avenue?

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Value Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 1000 Value Index, in the third quarter. On an absolute basis, the energy and consumer discretionary sectors were the positive contributors among the 11 sectors the strategy invested in. However, the communication services and information technology sectors were the significant detractors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like Deere & Company (NYSE:DE) in the Q3 2022 investor letter. Headquartered in Moline, Illinois, Deere & Company (NYSE:DE) is a global manufacturer and distributor of various equipment and it operates through Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services segments. On November 7, 2022, Deere & Company (NYSE:DE) stock closed at $398.77 per share. One-month return of Deere & Company (NYSE:DE) was 9.75%, and its shares gained 12.07% of their value over the last 52 weeks. Deere & Company (NYSE:DE) has a market capitalization of $120.357 billion.

ClearBridge Investments made the following comment about Deere & Company (NYSE:DE) in its Q3 2022 investor letter:

“For example, we believe that farm equipment manufacturer Deere & Company (NYSE:DE) continues to benefit from both a strong farm economy and product innovations that directly benefit farmers’ productivity while also reducing their environmental footprint. The company has also demonstrated excellent execution, highlighted by capturing market share and maintaining margins despite dealing with a labor strike and elevated supply chain costs.”

Pixabay/Public Domain

Deere & Company (NYSE:DE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Deere & Company (NYSE:DE) at the end of the second quarter which was 66 in the previous quarter.

We discussed Deere & Company (NYSE:DE) in another article and shared the list of best ethical stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.