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Warren Buffett Expands His Portfolio, Invests in John Deere Tractor Equipment (Nov 23, 2012)
Warren Buffett Expands His Portfolio, Invests in John Deere Tractor Equipment
Buffett’s Berkshire Purchases $330 Million Worth of Shares In John Deere and Co.
By Amanda Brodhagen, Farms.com
One of the most successful U.S. business investors - Warren Buffett, CEO of Berkshire Hathaway recently invested in $330 million worth of shares in John Deere & Company, a well-known maker of tractors and agriculture equipment.
This move demonstrates that Buffett isn’t afraid to expand his portfolio into areas that he hasn’t traditionally invested in - like agriculture.
Deere’s net income was at $3.07 billion for the full fiscal year- however it fell short of expectations of an estimated $3.12 billion– which can largely be attributed to unexpected cost increases. Deere shares have been trading $82 to $85 which is just short of its record high of slightly under $90 a share.
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