Midwest Financial Partners Investments Inc. purchased a new stake in Deere & Company (NYSE:DE – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 991 shares of the industrial products company’s stock, valued at approximately $461,000.
Several other institutional investors have also added to or reduced their stakes in the company. Cerro Pacific Wealth Advisors LLC boosted its stake in Deere & Company by 0.6% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the period. Verdence Capital Advisors LLC boosted its stake in Deere & Company by 2.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company’s stock valued at $360,000 after purchasing an additional 20 shares during the period. Family Legacy Inc. boosted its stake in Deere & Company by 0.3% in the 4th quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company’s stock valued at $3,675,000 after purchasing an additional 20 shares during the period. Bouchey Financial Group Ltd boosted its stake in Deere & Company by 4.4% in the 3rd quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 21 shares during the period. Finally, Silvant Capital Management LLC grew its position in shares of Deere & Company by 0.5% during the 3rd quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company’s stock worth $2,034,000 after purchasing an additional 21 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on DE shares. DA Davidson increased their target price on shares of Deere & Company from $580.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Sanford C. Bernstein increased their target price on shares of Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Truist Financial increased their target price on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada increased their target price on shares of Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $655.45.
Deere & Company Stock Down 5.3%
Shares of DE opened at $530.84 on Friday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a market cap of $143.38 billion, a P/E ratio of 29.92, a P/E/G ratio of 1.96 and a beta of 0.96. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The firm has a 50 day simple moving average of $577.80 and a two-hundred day simple moving average of $539.87.
Deere & Company (NYSE:DE – Get Free Report) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $11.78 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.64 earnings per share. Research analysts forecast that Deere & Company will post 18.01 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.2%. Deere & Company’s dividend payout ratio is 36.53%.
Key Deere & Company News
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: Deere posted stronger-than-expected Q2 results, with EPS of $6.55 topping estimates and revenue rising 5.4% year over year to $13.37 billion, helped by solid demand in Small Ag & Turf and Construction & Forestry. Deere Shares Fall 4.4% Despite Earnings Beat and Stable Outlook
- Positive Sentiment: The company said it maintained its full-year profit outlook, signaling management confidence despite a tougher farm-cycle backdrop. Deere beats second-quarter profit estimate but maintains full-year forecast
- Neutral Sentiment: Deere’s construction and smaller-equipment businesses continued to offset weakness in core agricultural equipment, keeping overall sales growth positive. Deere Sales Rise as Construction Growth Offsets Agriculture Weakness
- Negative Sentiment: Investors are focusing on weak large-agriculture trends: Production & Precision Ag sales fell sharply and operating profit declined, suggesting the most cyclical part of Deere’s business is still under pressure. Deere shares tumble after weak large-ag outlook overshadows earnings beat
- Negative Sentiment: Management’s unchanged full-year framework and cautious commentary on farm budgets imply a slow recovery for big-ticket equipment demand, which is weighing on the stock. Deere Shares Tumble With Farmers Facing ‘Ongoing Challenges’
About Deere & Company
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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