Nippon Life Global Investors Americas Inc. lifted its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 2,911.3% during the 3rd quarter, Holdings Channel reports. The firm owned 87,630 shares of the industrial products company’s stock after purchasing an additional 84,720 shares during the quarter. Deere & Company comprises 2.4% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 10th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Deere & Company were worth $58,976,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Deere & Company in the second quarter valued at approximately $11,763,504,000. Bank of America Corp DE acquired a new stake in shares of Deere & Company during the 2nd quarter worth approximately $1,685,093,000. Bank of New York Mellon Corp bought a new stake in shares of Deere & Company in the 2nd quarter valued at $1,259,279,000. Legal & General Group Plc bought a new stake in shares of Deere & Company in the 2nd quarter valued at $957,456,000. Finally, Wellington Management Group LLP boosted its stake in Deere & Company by 84.3% during the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock worth $1,959,209,000 after acquiring an additional 1,412,694 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.
Deere & Company Price Performance
DE stock opened at $675.03 on Monday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The business has a 50-day simple moving average of $663.79 and a two-hundred day simple moving average of $604.16. The company has a market capitalization of $182.00 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 2.47 and a beta of 0.89. Deere & Company has a 52-week low of $454.50 and a 52-week high of $721.22.
Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The firm had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the prior year, the business posted $4.75 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Deere & Company will post 18.11 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio is presently 36.00%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, August 24th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, September 21st. UBS Group cut their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a report on Friday, August 21st. Finally, Nomura upgraded shares of Deere & Company to a “buy” rating in a research note on Monday, August 31st. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $688.10.
Check Out Our Latest Stock Analysis on Deere & Company
Key Deere & Company News
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: Deere was largely insulated from the machinery-sector selloff that hit Caterpillar after its moderate outlook. The relative resilience suggests investors viewed Deere’s farm-equipment exposure and outlook more favorably. Caterpillar Drops 7% as Moderate Sales Outlook Overshadows Beat; Deere Sits Out the Selloff
- Positive Sentiment: Analysts highlighted smart-farming technology, automation and cost controls as potential support for Deere, particularly as long-term agricultural demand and equipment investment improve. Zacks Industry Outlook Highlights Deere & Co., Kubota and CNH Industrial
- Positive Sentiment: One valuation analysis estimates Deere may be undervalued by approximately 16%, with cybersecurity developments adding a potential catalyst if the company can strengthen its technology and risk-management position. Deere Stock May Be 16% Undervalued on AI Cyberattack News
- Neutral Sentiment: Analysts expect Deere’s upcoming fourth-quarter report to show a single-digit increase in profit, keeping earnings expectations in focus ahead of the release. Deere & Company’s Earnings: What to Expect
- Negative Sentiment: Wheat’s prolonged decline is pressuring farmers’ incomes and balance sheets, which could eventually reduce demand for new agricultural equipment or delay replacement purchases. Farmers Are Getting Crushed as Wheat Slides for a Record Stretch
Deere & Company Company Profile
Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.
Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.
Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.
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