Deere & Company $DE Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,989 shares of the industrial products company’s stock after selling 4,605 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Deere & Company were worth $94,010,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DE. BlackRock Inc. purchased a new position in shares of Deere & Company in the second quarter worth about $11,763,504,000. Wellington Management Group LLP grew its stake 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 in the last quarter. Bank of America Corp DE grew its stake 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 in the last quarter. Bank of New York Mellon Corp purchased a new stake in Deere & Company during the 2nd quarter valued at about $1,259,279,000. Finally, Legal & General Group Plc acquired a new stake in Deere & Company in the 2nd quarter valued at about $957,456,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Truist Financial cut their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Robert W. Baird raised shares of Deere & Company from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Oppenheimer upped their price objective on Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. Evercore raised Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 target price for the company in a research note on Wednesday, September 2nd. Finally, Barclays upped their price target on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $688.10.

Deere & Company Stock Up 1.3%

Deere & Company stock opened at $671.99 on Friday. Deere & Company has a fifty-two week low of $455.90 and a fifty-two week high of $721.22. 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 firm has a 50 day moving average price of $667.02 and a 200 day moving average price of $608.14. The company has a market capitalization of $181.18 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.89 and a beta of 0.89.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The company had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the prior year, the firm earned $4.75 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Deere & Company News Roundup

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere’s See & Spray technology was cited as an example of AI improving farm productivity; the system can reduce pesticide use by as much as 75%. That efficiency potential may support customer economics and demand for Deere’s precision-agriculture offerings. Are eBay and Deere stocks under-the-radar AI beneficiaries?
• Positive Sentiment: A Zacks article included Deere among AgriTech and food-innovation stocks, pointing to strategic investment, operational improvements, and growth opportunities as reasons it may suit investors seeking portfolio stability. 2 AgriTech and Food Innovation Stocks to Buy for a Stable Portfolio
• Neutral Sentiment: Recent coverage compares Deere with Kubota (KUBTY) for value investors but the provided summaries do not say which company comes out ahead. The comparison alone offers no clear new signal on Deere’s valuation. KUBTY vs. DE: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Deere plans to close two Iowa facilities and consolidate production, including moving small-planter production and shifting work to its Ankeny plant. The restructuring could improve efficiency over time, but closures and associated disruption may concern investors in the near term. John Deere Consolidates U.S. Plants, Will Close 2 Iowa Factories

Deere & Company Company Profile