593,043 Shares in Deere & Company $DE Acquired by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 593,043 Deere shares during the second quarter, worth approximately $376.2 million and representing about 0.22% of the company. Institutional investors and hedge funds collectively own 68.58% of Deere.
• Analysts remain generally positive, with a consensus rating of “Moderate Buy” and an average price target of $653.48. Recent targets range from $585 to $804, reflecting mixed but largely upward revisions.
• Deere reported quarterly earnings of $5.10 per share, exceeding the $4.69 consensus estimate, while revenue reached $12.61 billion—up 6.2% year over year and well above expectations.

Corient Private Wealth LP acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 593,043 shares of the industrial products company's stock, valued at approximately $376,190,000. Corient Private Wealth LP owned approximately 0.22% of Deere & Company as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. acquired a new stake in Deere & Company during the 2nd quarter valued at $8,770,000. Perennial Investment Advisors LLC acquired a new stake in shares of Deere & Company in the second quarter worth $559,000. Pingora Partners LLC purchased a new position in shares of Deere & Company during the second quarter valued at $159,000. Ausdal Financial Partners Inc. purchased a new position in shares of Deere & Company during the second quarter valued at $5,688,000. Finally, Bank of America Corp DE acquired a new position in Deere & Company during the second quarter valued at $1,685,093,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. JPMorgan Chase & Co. increased their price objective on Deere & Company from $570.00 to $585.00 and gave the stock a "neutral" rating in a research note on Friday, August 21st. DA Davidson lifted their target price on Deere & Company from $685.00 to $760.00 and gave the company a "buy" rating in a research note on Monday. Robert W. Baird upped their target price on Deere & Company from $525.00 to $640.00 and gave the company a "neutral" rating in a report on Friday, August 21st. Oppenheimer increased their price target on shares of Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. Finally, Truist Financial decreased their price target on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating for the company in a report on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $653.48.

Deere & Company Price Performance

Shares of NYSE:DE opened at $633.36 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The business has a fifty day simple moving average of $610.13 and a 200 day simple moving average of $592.80. The firm has a market cap of $170.97 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. During the same quarter last year, the firm earned $4.75 earnings per share. The business's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 18.09 earnings per share for the current fiscal year.

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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