AIA Group Ltd Sells 2,122 Shares of Deere & Company $DE

AIA Group Ltd lowered its stake in Deere & Company (NYSE:DE - Free Report) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,904 shares of the industrial products company's stock after selling 2,122 shares during the quarter. AIA Group Ltd's holdings in Deere & Company were worth $29,484,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Deere & Company in the second quarter valued at approximately $11,763,504,000. Wellington Management Group LLP boosted its position in shares of 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 buying an additional 1,412,694 shares during the period. Bank of America Corp DE boosted its position in shares of Deere & Company by 0.3% during the first quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company's stock worth $1,567,327,000 after buying an additional 7,918 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Deere & Company during the second quarter worth $1,259,279,000. Finally, Legal & General Group Plc acquired a new stake in shares of Deere & Company in the second quarter valued at $957,456,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Key Deere & Company News

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

• Positive Sentiment: Deere introduced an AI assistant designed to help farmers use accumulated field data, highlighting continued investment in digital farming tools. The article does not quantify expected revenue or financial impact. Read More.
• Neutral Sentiment: Deere appointed former EY U.S. CEO Julie Boland to its board and its compensation and finance committees. Her background in financial reporting, governance and global finance may strengthen board oversight, but no near-term business impact was announced. Read More.
• Neutral Sentiment: Deere has recalled laid-off employees and plans additional hiring ahead of negotiations with the United Auto Workers. The staffing rebuild may support operations, while the upcoming talks create uncertainty around labor costs and contract terms. Read More.
• Neutral Sentiment: Analyst coverage cited an average brokerage recommendation equivalent to “Buy,” but the article cautions that sell-side ratings can be overly optimistic and are not necessarily a reliable standalone investment signal. Read More.
• Negative Sentiment: Former Deere employees advanced a lawsuit seeking severance benefits, raising a potential legal and financial exposure; the available report does not specify the amount at stake. Read More.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird upgraded Deere & Company from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $640.00 to $800.00 in a report on Monday, August 31st. Bank of America increased their target price on Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Nomura upgraded Deere & Company to a "buy" rating in a report on Monday, August 31st. 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 report on Monday, August 24th. Finally, Barclays boosted their price target on shares of Deere & Company from $640.00 to $675.00 and gave the stock 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $688.10.

Deere & Company Price Performance

Shares of NYSE DE opened at $666.43 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The company has a market cap of $179.68 billion, a price-to-earnings ratio of 37.09, a price-to-earnings-growth ratio of 1.89 and a beta of 0.89. The stock's 50-day moving average is $664.52 and its two-hundred day moving average is $605.77. Deere & Company has a 1-year low of $455.90 and a 1-year high of $721.22.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. During the same quarter last year, the business posted $4.75 EPS. The business's quarterly revenue was up 6.2% compared to the same quarter last year. Analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.