5 Most Profitable Industrial Stocks Now

2. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 55

Latest TTM Net Income: $10.17 billion

Deere & Company (NYSE:DE), operating under the trade name John Deere, is an American corporation that produces agricultural machinery, heavy equipment, forestry machinery, diesel engines, drivetrains for heavy equipment, and lawn care equipment. The company also offers financial services and engages in other related activities.

The company reported quarterly earnings of $8.26 per share, up from $7.44 per share a year ago, after adjusting for non-recurring items. This result marks an earnings surprise of 10.28%. In the previous quarter, analysts anticipated earnings of $8.14 per share, but Deere & Company (NYSE:DE) exceeded expectations with earnings of $10.20 per share, representing a surprise of 25.31%. Over the last four quarters, the company has consistently outperformed consensus EPS estimates.

During September 2023, 55 out of the 910 hedge funds profiled by Insider Monkey were the firm’s shareholders. Deere & Company (NYSE:DE)’s biggest hedge fund investor is Michael Larson’s Bill & Melinda Gates Foundation Trust as it owns $1.4 billion worth of shares.