5 American Manufacturing Stocks to Buy Now

1. Deere and Company (NYSE:DE)

Number of Hedge Fund Holders: 54      

Deere and Company (NYSE:DE) manufactures and distributes various equipment worldwide. It is one of the elite American manufacturing stocks to buy now. On September 12, The Wall Street Journal reported that the company will generate 10% of yearly revenue from software fees by the end of the decade as its farm machinery becomes more technologically advanced. The statement was made by John May, chief executive of Deere and Company (NYSE:DE), in the publication. 

On August 24, Argus analyst John Eade maintained a Buy rating on Deere and Company (NYSE:DE) stock and raised the price target to $420 from $390, noting that the earnings of the firm appeared to be back in growth mode. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Deere and Company (NYSE:DE), with 1.5 million shares worth more than $458 million.  

In its Q2 2022 investor letter, LRT Capital Management, an asset management firm, highlighted a few stocks and Deere and Company (NYSE:DE) was one of them. Here is what the fund said:

“Deere & Company (NYSE:DE) manufactures machines and equipment, which help the agriculture and construction industries. The company’s production and precision agriculture segment manufacture global equipment and technology solutions for production-scale growers of large grains, small grains, cotton, and sugar. The small agriculture and turf segment develops equipment for dairy and livestock producers, crop producers, and turf and utility customers. Finally, the construction and forestry segment make a range of machines for the earthmoving, forestry, and roadbuilding production systems (…read more)

You can also take a peek at 13 Best Hemp Stocks to Buy Now and Billionaire Dan Loeb’s Top 10 Stock Picks.

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