Bill Gates Ups His Ownership Stake In Deere

Microsoft Chairman, Bill Gates has increased his overall stake in Deere & Co. to about 7%, marking an acquisition of three million additional shares of the farm equipment manufacturer.

Cascade Investment LLC, a Kirkland, WA-based investment company owned and managed by Microsoft Corporation announced that the acquisition of additional shares has increased Cascade Investment LLC’s holdings in Deere to 27.5 million, according to a regulatory filing. Prior to the firm’s filing with the U.S. Securities and Exchange Commission, the Gates-directed investment firm had owned 24.5 million shares, or 6.2%, since July 2011.

According to Cascade Investment LLC, this purchase “is for investment purposes,” but no clear reason has been disclosed by the company for increasing the firm’s stake in the leading farm equipment manufacturer.

Per The Wall Street Journal, more than 580,200 shares of Bill Gate’s investment entity were acquired at an average price of $85.25 per share.