Oppenheimer & Co. Inc. raised its position in shares of Deere & Company (NYSE:DE – Free Report) by 27.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,210 shares of the industrial products company’s stock after buying an additional 4,358 shares during the period. Oppenheimer & Co. Inc.’s holdings in Deere & Company were worth $13,572,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also modified their holdings of DE. BlackRock Inc. purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $11,763,504,000. Wellington Management Group LLP boosted its holdings in Deere & Company by 84.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after acquiring an additional 1,412,694 shares during the period. Bank of America Corp DE boosted its holdings in Deere & Company by 0.3% during the 1st quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company’s stock valued at $1,567,327,000 after acquiring an additional 7,918 shares during the period. Bank of New York Mellon Corp acquired a new position in Deere & Company in the 2nd quarter valued at about $1,259,279,000. Finally, Legal & General Group Plc acquired a new position in Deere & Company in the 2nd quarter valued at about $957,456,000. 68.58% of the stock is owned by institutional investors and hedge funds.
More Deere & Company News
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: Deere’s consensus price target is reported at $688.10, suggesting analysts see additional upside from the stock’s recent trading level. Deere Consensus Price Target Article
- Neutral Sentiment: Deere is attracting elevated investor and market-screening attention, but the Zacks article does not identify a new fundamental development likely to materially change earnings expectations. Zacks Deere Trending Stock Article
- Neutral Sentiment: Deere was described as little changed in premarket trading, indicating no major overnight company announcement was driving the shares. Deere Premarket Trading Article
- Negative Sentiment: A comparison with Caterpillar puts Deere’s dividend growth trajectory under scrutiny. The focus on recent dividend trends may weigh on income-oriented sentiment if investors view Deere’s payout growth as less compelling than competing heavy-equipment alternatives. Caterpillar Versus Deere Dividend Comparison
Deere & Company Trading Down 0.3%
NYSE:DE opened at $639.55 on Wednesday. The stock has a fifty day moving average price of $660.15 and a 200 day moving average price of $601.68. Deere & Company has a 12-month low of $454.50 and a 12-month high of $721.22.
Deere & Company (NYSE:DE – Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $10.81 billion. During the same period in the previous year, the firm earned $4.75 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 18.11 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th.
Wall Street Analyst Weigh In
DE has been the topic of a number of recent research reports. Raymond James Financial boosted their price target on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Oppenheimer raised their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. UBS Group lowered 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. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $640.00 to $800.00 in a report on Monday, August 31st. Finally, Nomura raised shares of Deere & Company to a “buy” rating in a research note on Monday, August 31st. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $688.10.
Get Our Latest Research Report on Deere & Company
About Deere & Company
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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