Bill Gates has increased his stake in Deere & Co. to 7 percent from 5.8 percent, according to a recent filing with the U.S. Securities and Exchange Commission.
Since August of 2011, Gates has increased his stake on the company by 3 million shares for a total of 27.5 million shares. He paid about $238.8 million for the additional shares, including commissions.
All the shares were purchased through Cascade Investment LLC, Gate's investment company. A third of the share were purchased between Dec. 7 and Dec. 10, according to a filing made Dec. 11.
The shares were purchased for "investment purposes," according to the filing.
Deere's stock was up .37 percent to $86.25 per share in midday trading.
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