5 Best Manufacturing Stocks To Buy Now

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1. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 65

Deere & Company (NYSE:DE) manufactures and distributes different equipment worldwide, operating through Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services segments. Deere & Company (NYSE:DE) is one of the best manufacturing stocks to watch. On May 31, the company declared a $1.25 per share quarterly dividend, in line with previous. The dividend is payable on August 8, to shareholders of record on June 30. 

According to Insider Monkey’s first quarter database, 65 hedge funds were bullish on Deere & Company (NYSE:DE), compared to 63 funds in the earlier quarter. Bill & Melinda Gates Foundation Trust is the largest stakeholder of the company, with a position worth $1.6 billion. 

ClearBridge Large Cap Value Strategy made the following comment about Deere & Company (NYSE:DE) in its Q4 2022 investor letter:

“Our industrials holdings produced robust absolute returns for the quarter. While the ISM Manufacturing Index fell in November to contractionary levels, our industrial holdings have largely been able to maintain earnings due to strong competitive positions, historically large backlogs and company-specific drivers. For example, Deere & Company (NYSE:DE) continues to benefit from a strong upgrade cycle as record farmers’ income is driving broad and rapid adoption of the company’s precision agricultural equipment.”

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