Deere & Co. (NYSE:DE) (1.5%) (DE - $165.71 - 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.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund's second-quarter 2019 shareholder letter.
This article first appeared on GuruFocus.
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