13 Best Farmland and Agriculture Stocks To Invest In According to Hedge Funds

2. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 41

Deere & Company (NYSE:DE), also known as John Deere, is a prominent American manufacturer specializing in agricultural, turf, construction, and forestry equipment. The company is well-known for its innovative technology-driven products, such as the Autonomous 8R Tractor, See & Spray systems, and E-Power Backhoe. Deere & Company (NYSE:DE) ranks among the best agriculture stocks to buy.

In the fourth quarter of fiscal 2024, which ended on October 27, 2024, Deere & Company (NYSE:DE) reported a net income of $1.24 billion, or $4.55 per share. This represents a significant decline from the $2.36 billion earned in Q4 2023. For the full fiscal year, net income dropped to $7.1 billion, down from $10.16 billion in fiscal 2023. Despite these declines, Deere & Company’s (NYSE:DE) margins in 2024 remained strong, exceeding 18%, reflecting improvements made since adopting its smart industrial operating model in 2020.

Deere & Company (NYSE:DE) faced challenges this year, with worldwide net sales and revenues falling by 28% in Q4 to $11.14 billion, and a 16% decrease for the full year at $51.71 billion. These declines were primarily due to reduced shipment volumes across various segments, including a 38% drop in Production & Precision Agriculture sales. However, Deere & Company (NYSE:DE) has proactively adjusted its operations to better align with current market conditions.

Despite these setbacks, the company continues to invest heavily in research and development, maintaining record levels of spending to drive innovation and product development. In 2024, Deere & Company (NYSE:DE) introduced a variety of new and exciting solutions, including connected machines, engaged acres, and Autonomous Acres. The company’s See & Spray technology has successfully covered over one million acres this year, significantly reducing herbicide use by an average of nearly 60%.