Ancora Advisors LLC Invests $1.15 Million in Deere & Company $DE

Key Points

• Ancora Advisors purchased a new Deere position of 1,811 shares valued at approximately $1.15 million. Institutional investors collectively own 68.58% of the company.
• Deere reported stronger-than-expected quarterly results, with EPS of $5.10 versus the $4.69 consensus and revenue of $12.61 billion versus $10.81 billion expected; revenue rose 6.2% year over year.
• The company declared a quarterly dividend of $1.62 per share, while analysts maintain a “Moderate Buy” consensus and an average price target of $653.48. Shares trade at roughly 35 times earnings, reflecting elevated valuation expectations.

Ancora Advisors LLC purchased a new position in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,811 shares of the industrial products company's stock, valued at approximately $1,149,000.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Deere & Company during the 2nd quarter valued at $11,763,504,000. Norges Bank acquired a new position in Deere & Company during the fourth quarter valued at $1,715,633,000. Capital World Investors lifted its stake in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Deere & Company in the 2nd quarter worth about $1,259,279,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock worth $932,870,000 after acquiring an additional 1,893,972 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 1.9%

Shares of NYSE DE opened at $622.67 on Friday. The business has a 50 day simple moving average of $610.78 and a 200 day simple moving average of $593.08. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The stock has a market cap of $168.08 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.62 and a beta of 0.90. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results 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. The firm had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company's revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.75 earnings per share. On average, research analysts predict that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Robert W. Baird lifted their target price on Deere & Company from $525.00 to $640.00 and gave the company a "neutral" rating in a research note on Friday, August 21st. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a report on Friday, August 14th. UBS Group lowered their price objective on shares of Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a research report on Friday, August 21st. Bank of America dropped their price objective on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $570.00 to $585.00 and gave the stock a "neutral" rating in a research report on Friday, August 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Deere & Company has an average rating of "Moderate Buy" and an average price target of $653.48.

Deere & Company News Summary

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 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source