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Mario Gabelli Comments on Deere & Co.

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Feb 18, 2022
Summary
  • Its premium product portfolio and strong balance sheet position it well to thrive as its end markets recover.
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Deere & Co. (2.6% of net assets as of December 31, 2021) (

DE, Financial) (DE – $342.89 – NYSE), headquartered in Moline, Illinois, is a leading global manufacturer of machinery for agricultural, construction, and forestry usage. Its dominant position in North American agricultural equipment markets optimally positions the company for what is expected to be an increase in demand for agricultural equipment both in the near term given cycle dynamics as well as for the long term, as global population and income growth drive crop demand in the coming decades. Its premium product portfolio and strong balance sheet position it well to thrive as its end markets recover. Moreover, DE is a leader in “Precision Ag” technologies that improve farmer productivity through cloud and AI-based improvements on centuries-old farming techniques.

From

Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund fourth-quarter 2021 commentary.

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