Congress Asset Management Co. Buys 1,917 Shares of Deere & Company $DE

Key Points

• Congress Asset Management increased its Deere & Company stake by 291.8% in the third quarter, buying 1,917 additional shares for a total holding worth approximately $1.73 million. Institutional investors collectively own 68.58% of the stock.
• Analyst sentiment remains favorable, with 17 Buy ratings and 8 Hold ratings producing a “Moderate Buy” consensus and an average price target of $686.10; Evercore and Nomura recently upgraded the shares.
• Deere reported quarterly EPS of $5.10, beating estimates of $4.69, while revenue rose 6.2% year over year to $12.61 billion. The company also declared a quarterly dividend of $1.62 per share, representing a 1.0% annualized yield.

Congress Asset Management Co. raised its stake in Deere & Company (NYSE:DE - Free Report) by 291.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,574 shares of the industrial products company's stock after buying an additional 1,917 shares during the quarter. Congress Asset Management Co.'s holdings in Deere & Company were worth $1,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co increased its position in Deere & Company by 3.2% during the second quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 516 shares of the industrial products company's stock worth $308,000 after purchasing an additional 16 shares during the last quarter. Anchyra Partners LLC boosted its holdings in Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. boosted its holdings in Deere & Company by 0.6% in the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock valued at $1,638,000 after purchasing an additional 17 shares during the last quarter. Concorde Asset Management LLC grew its stake in shares of Deere & Company by 3.0% in the 2nd quarter. Concorde Asset Management LLC now owns 581 shares of the industrial products company's stock valued at $369,000 after buying an additional 17 shares during the period. Finally, MCF Advisors LLC grew its stake in shares of Deere & Company by 0.9% in the 2nd quarter. MCF Advisors LLC now owns 1,999 shares of the industrial products company's stock valued at $1,271,000 after buying an additional 17 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on DE shares. Evercore upgraded Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective on the stock in a report on Wednesday, September 2nd. Nomura upgraded Deere & Company to a "buy" rating in a research report on Monday, August 31st. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, September 21st. JPMorgan Chase & Co. upped their price target on Deere & Company from $570.00 to $585.00 and gave the company a "neutral" rating in a research note on Friday, August 21st. Finally, Barclays increased their price target on Deere & Company from $640.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 24th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $686.10.

Deere & Company Stock Down 3.8%

Shares of NYSE DE opened at $656.94 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The business's 50 day moving average is $653.35 and its two-hundred day moving average is $608.66. Deere & Company has a 52-week low of $433.00 and a 52-week high of $721.22. The firm has a market cap of $177.12 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 2.50 and a beta of 0.86.

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, topping the consensus estimate of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.Deere & Company's revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.75 EPS. Research analysts predict that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company's dividend payout ratio is 36.00%.

Trending Headlines about Deere & Company

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

• Positive Sentiment: John Deere and Yamaha Motor agreed to collaborate on future side-by-side vehicles, combining Yamaha’s powertrain and vehicle-design expertise with Deere’s vehicle-development capabilities and U.S. manufacturing footprint. The partnership could support Deere’s recreational-vehicle product pipeline, although financial details and the timing of any revenue contribution were not disclosed. Yamaha Motor and John Deere Announce Collaboration on Future Side-by-Side Vehicles
• Neutral Sentiment: Deere remains identified as an agriculture-technology and precision-farming company benefiting from long-term trends toward smarter, more automated food production. However, the article offers no new company-specific financial guidance or catalyst likely to materially change near-term earnings expectations. AgTech & Food Innovation Stocks Driving Smarter Food Systems
• Negative Sentiment: The Federal Trade Commission and U.S. Department of Agriculture are seeking public input on possible barriers to purchasing, servicing and repairing agricultural equipment. The inquiry raises concerns about competition, equipment access and repair practices, potentially creating regulatory, legal or business-model risks for Deere and other manufacturers. Caterpillar and Deere Stock Fall as Regulatory Pressure Continues
• Negative Sentiment: Long-term Treasury yields reached levels not seen in more than two decades, pressuring manufacturers that sell expensive machinery often financed by customers. Higher borrowing costs can reduce equipment affordability and demand while contributing to a wider industrial-stock selloff. Caterpillar Drops 6% as Industrials Sell Off With Long Yields at a Two-Decade High; Deere Falls 4%, PACCAR Eases

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company's products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

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