In this piece, we will take a look at the five biggest agriculture stocks in 2024. If you want to learn more details about agriculture stocks and how they transformed over the ages, then check out 15 Biggest Agriculture Stocks in 2024.
5. CNH Industrial N.V. (NYSE:CNHI)
Latest Market Capitalization: $15.56 billion
CNH Industrial N.V. (NYSE:CNHI) is an industrial equipment company that sells farming equipment such as tractors and harvesters. Like other firms in its industry, CNH Industrial N.V. (NYSE:CNHI) is also increasing the role that technology plays in its product ecosystem. To this end, the firm showed off how smart sensors and other tech equipment will help customers in February 2024.
During Q3 2023, 29 out of the 910 hedge funds part of Insider Monkey’s database had held a stake in CNH Industrial N.V. (NYSE:CNHI). Natixis Global Asset Management’s Harris Associates was the firm’s biggest investor due to its $1.5 billion stake.
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Follow Cnh Industrial N.v. (NYSE:CNHI)
4. Nutrien Ltd. (NYSE:NTR)
Latest Market Capitalization: $24.87 billion
Nutrien Ltd. (NYSE:NTR) is one of the biggest fertilizer companies in the world, known for its nitrogen and potassium based products. The shares are rated Buy on average, with an average share price target upside of 39% despite the fact that Nutrien Ltd. (NYSE:NTR) has missed analyst EPS estimates in all four of its latest quarters.
As of September 2023 end, 33 out of the 910 hedge funds covered by Insider Monkey’s research were the firm’s shareholders. The largest Nutrien Ltd. (NYSE:NTR) shareholder in our database is Jean-Marie Eveillard’s First Eagle Investment Management as it owns $572 million worth of shares.
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Follow Nutrien Ltd. (NASDAQ:NTR)
3. Archer-Daniels-Midland Company (NYSE:ADM)
Latest Market Capitalization: $29 billion
Archer-Daniels-Midland Company (NYSE:ADM) is located further downstream of the agriculture supply chain. It is a commodity broker that connects farmers to their markets. February 2024 is proving to be a controversial month for the firm as is being investigated by the Justice Department for accounting improprieties according to unconfirmed reports which follow its CFO’s resignation in January.
After digging through 910 hedge fund portfolios for last year’s third quarter, Insider Monkey discovered that 37 had bought and owned Archer-Daniels-Midland Company (NYSE:ADM)’s shares. Cliff Asness’s AQR Capital Management was the biggest investor due to its $216 million stake.
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Follow Archer-Daniels-Midland Co (NYSE:ADM)
2. Corteva, Inc. (NYSE:CTVA)
Latest Market Capitalization: $36.33 billion
Corteva, Inc. (NYSE:CTVA) is a diversified agriculture raw materials company that sells seeds, herbicides, and other associated products. Even though some of its peers have struggled on the financial front, Corteva, Inc. (NYSE:CTVA) has beaten analyst EPS estimates in three out of its four latest quarters and its latest earnings results saw the shares jump by 18%.
For their third quarter of 2023 shareholdings, 42 out of the 910 hedge funds polled by Insider Monkey were the firm’s investors. Out of these, the biggest Corteva, Inc. (NYSE:CTVA) shareholder is Natixis Global Asset Management’s Harris Associates as it owns 4.8 million shares that are worth $246 million.
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Follow Corteva Inc. (NYSE:CTVA)
1. Deere & Company (NYSE:DE)
Latest Market Capitalization: $36.33 billion
Deere & Company (NYSE:DE) is the well known American farming equipment brand. It has been doing well on the financial front as of late by having beaten analyst EPS estimates in all four of its latest quarters. The average share price target of $425.38 also prices in a considerable upside.
55 out of the 910 hedge funds part of Insider Monkey’s Q3 2023 database had bought a stake in Deere & Company (NYSE:DE). Michael Larson’s Bill & Melinda Gates Foundation Trust owned the largest stake that was worth $1.4 billion.
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Follow Deere & Co (NYSE:DE)
Disclosure: None. You can also take a look at 13 Most Advanced Countries in Robotics and 13 Worst Rated Fast Food Restaurants in America According to Reddit.
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