Glenview Trust Co purchased a new position in Deere & Company (NYSE:DE – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 39,497 shares of the industrial products company’s stock, valued at approximately $25,054,000.
Other hedge funds also recently made changes to their positions in the company. Anchyra Partners LLC lifted its holdings in Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock worth $1,797,000 after purchasing an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its stake in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after purchasing an additional 17 shares during the period. Advisortrust Partners LLC grew its holdings in Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock valued at $515,000 after buying an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC grew its holdings in Deere & Company by 0.6% during 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 buying an additional 19 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its position in shares of Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after buying an additional 19 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Key Stories Impacting Deere & Company
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: Better-than-expected earnings and execution: Deere reported fiscal third-quarter earnings per share of $5.10, above the $4.69 analyst consensus, while revenue reached $12.61 billion versus expectations of $10.81 billion. Net income increased 7% year over year to $1.379 billion. Management cited strong factory output, disciplined cost control, favorable price realization, and steady construction and turf demand. Deere’s Q2 Earnings Call: Our Top 5 Analyst Questions
- Positive Sentiment: Construction and AI opportunities support diversification: Coverage highlighted growth in less traditional areas, including construction, where demand is benefiting from technology and infrastructure investment. Deere also entered a $10 million, three-year R&D partnership with Reservoir to accelerate rugged artificial-intelligence applications for high-value crop agriculture. Deere quarterly profits and construction growth Reservoir AI partnership with John Deere
- Positive Sentiment: Analyst support and shareholder return: DA Davidson raised its price target to $760, while RBC reaffirmed an “Outperform” rating. Deere also declared a quarterly dividend of $1.62 per share, payable November 9 to shareholders of record September 30. DA Davidson raises Deere price target RBC reaffirms Deere Outperform rating Deere quarterly dividend announcement
- Neutral Sentiment: Mixed segment picture: The earnings commentary suggests Deere’s diversified businesses, particularly construction and turf, are offsetting softer conditions in its largest agriculture-related division. Investors may therefore remain focused on the durability of farm-equipment demand and the company’s outlook.
- Negative Sentiment: Valuation leaves less room for disappointment: With the shares trading at roughly 35 times earnings, investors may be taking profits or showing caution despite the earnings beat, particularly if agricultural weakness persists or growth in newer businesses takes longer to scale.
Deere & Company Stock Performance
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. The company had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.75 earnings per share. As a group, equities analysts predict that Deere & Company will post 18.09 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s payout ratio is presently 36.00%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a report on Monday. UBS Group reduced their price objective on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research note on Friday, August 21st. Bank of America decreased their target price on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. DA Davidson increased their target price on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citigroup raised their price target on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $653.48.
Deere & 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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