Candriam S.C.A. Purchases 3,059 Shares of Deere & Company $DE

Key Points

• Candriam S.C.A. boosted its Deere stake by 6.7% in the first quarter, buying 3,059 additional shares and bringing its total holding to 48,419 shares valued at about $27.3 million.
• Deere’s latest earnings beat expectations, reporting $6.55 EPS on $13.37 billion in revenue, both above analyst estimates; revenue also rose 5.4% year over year.
• Sentiment remains mixed but generally positive: analysts have a consensus “Moderate Buy” rating with a $642.23 target, while the stock also faces a potential headwind from its FTC right-to-repair settlement that could pressure after-sales economics.

Candriam S.C.A. increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,419 shares of the industrial products company's stock after acquiring an additional 3,059 shares during the quarter. Candriam S.C.A.'s holdings in Deere & Company were worth $27,274,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new stake in Deere & Company during the 3rd quarter worth $25,000. Portus Wealth Advisors LLC bought a new position in shares of Deere & Company in the 1st quarter worth $32,000. Key Capital Management INC acquired a new stake in shares of Deere & Company during the fourth quarter worth $27,000. Timmons Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter valued at about $29,000. Finally, McIlrath & Eck LLC bought a new stake in Deere & Company in the fourth quarter valued at about $30,000. Institutional investors own 68.58% of the company's stock.

Deere & Company News Roundup

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

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Deere & Company Stock Down 0.9%

Shares of Deere & Company stock traded down $5.54 on Friday, hitting $587.36. The company had a trading volume of 782,098 shares, compared to its average volume of 1,174,307. The firm has a market capitalization of $158.55 billion, a P/E ratio of 33.28, a P/E/G ratio of 2.17 and a beta of 0.89. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a 50-day moving average of $581.74 and a 200-day moving average of $566.99.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts' consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period last year, the business posted $6.64 earnings per share. The firm's quarterly revenue was up 5.4% on a year-over-year basis. Research analysts predict that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Truist Financial raised their target price on Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Barclays boosted their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday, July 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of "Moderate Buy" and a consensus price target of $642.23.

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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