Meeder Advisory Services Inc. acquired a new position in shares of Deere & Company (NYSE:DE – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,968 shares of the industrial products company’s stock, valued at approximately $3,785,000.
Other institutional investors also recently modified their holdings of the company. Cary Street Partners Financial LLC increased its stake in shares of Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 1,086 shares during the period. Baxter Bros Inc. acquired a new stake in Deere & Company during the 2nd quarter valued at approximately $1,707,000. Global Retirement Partners LLC acquired a new stake in Deere & Company during the 2nd quarter valued at approximately $3,890,000. Spectrum Financial Alliance Ltd LLC raised its holdings in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after purchasing an additional 30,553 shares during the last quarter. Finally, Westpac Banking Corp lifted its position in shares of Deere & Company by 78.6% in the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after purchasing an additional 3,047 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on DE shares. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $590.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. DA Davidson reissued a “buy” rating and issued a $685.00 price objective on shares of Deere & Company in a research report on Friday, July 17th. Oppenheimer reissued an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Citigroup raised their target price on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Raymond James Financial lowered their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $641.98.
More Deere & Company News
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: Analysts expect Deere’s upcoming quarter to show modest year-over-year growth, with projected earnings of approximately $4.79 per share and revenue of $10.78 billion. Estimates have generally moved higher, which could support the stock if Deere delivers or raises its outlook. Deere Earnings Loom As Precision Agriculture Narrative Keeps Fair Value In Focus
- Positive Sentiment: The precision-agriculture investment story remains a long-term potential catalyst. Deere’s technology and automation initiatives could improve productivity and support valuation if adoption accelerates. Are Wall Street Analysts Bullish on Deere & Company Stock?
- Neutral Sentiment: Deere is approaching its third-quarter earnings release with investor attention focused on revenue, margins, production levels and management’s outlook. The stock has generated strong longer-term returns, raising the bar for another positive surprise. Insights Into Deere Q3: Wall Street Projections for Key Metrics
- Negative Sentiment: Weak agricultural spending and elevated production costs could pressure Deere’s earnings and margins even if headline revenue and profit estimates improve. This makes the upcoming guidance particularly important for the share price. Deere Set to Report Q3 Earnings
- Negative Sentiment: JPMorgan cut its Deere price target to $570, signaling that the bank sees downside risk relative to recent trading levels. JPMorgan Cuts Deere Price Target
- Negative Sentiment: ARK Invest reportedly exited about $60 million of its Deere position while increasing investments in technology stocks. Although the sale does not change Deere’s fundamentals, it adds selling pressure and reinforces concerns about near-term investor preference for AI-oriented growth companies. ARK Invest Exits Deere Position
Deere & Company Stock Performance
Shares of DE opened at $589.18 on Wednesday. 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 $159.04 billion, a PE ratio of 33.38, a P/E/G ratio of 2.57 and a beta of 0.90. The stock has a 50-day moving average of $603.98 and a 200-day moving average of $589.29. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.
Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the company earned $6.64 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 18.21 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were given a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.
Deere & Company Company Profile
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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