CX Institutional Buys 2,045 Shares of Deere & Company $DE

Key Points

• CX Institutional increased its Deere stake by 69.3% in the third quarter, buying 2,045 shares for a total holding of 4,996 shares valued at approximately $3.36 million. Institutional investors collectively own 68.58% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” from 25 analysts and an average price target of $686.10, although some firms have issued hold or sell ratings.
• Deere recently exceeded quarterly expectations, reporting $5.10 in EPS and $12.61 billion in revenue, while ongoing weakness in large agricultural equipment demand and a relatively high P/E ratio of 38.15 remain risks.

CX Institutional grew its stake in shares of Deere & Company (NYSE:DE - Free Report) by 69.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,996 shares of the industrial products company's stock after acquiring an additional 2,045 shares during the period. CX Institutional's holdings in Deere & Company were worth $3,355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. BlackRock Inc. bought a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $11,763,504,000. State Street Corp lifted its stake in Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after purchasing an additional 97,049 shares during the last quarter. Capital World Investors lifted its stake in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Deere & Company by 84.3% in 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 purchasing an additional 1,412,694 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Deere & Company by 0.3% in 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 purchasing an additional 7,918 shares during the period. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the topic of a number of research reports. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a report on Friday, August 14th. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Nomura raised shares of Deere & Company to a "buy" rating in a research report on Monday, August 31st. Bank of America increased their price objective on shares of Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Finally, Oppenheimer raised their target price on shares of Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a report on Thursday, August 20th. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and an average price target of $686.10.

Key Deere & Company News

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

• Positive Sentiment: Construction and compact equipment provide growth: Deere reported that stronger performance in construction machinery and small equipment is helping offset softer demand for large agricultural equipment. The improving revenue mix suggests diversification may support results while the farm-equipment cycle remains weak. Deere Finds Growth In Construction And Small Equipment
• Positive Sentiment: Recent market outperformance and investor attention: Deere outpaced the broader stock market in the latest session, keeping the company in focus among investors. Its digital-growth narrative, favorable average brokerage recommendation and strong longer-term performance are contributing to positive sentiment. Why Deere Outpaced the Stock Market Today
• Neutral Sentiment: Analyst support is tempered by valuation: Wall Street’s average recommendation is broadly favorable, but the company carries a Zacks Rank of Hold. Deere’s recent earnings beat and improved outlook remain supportive, although investors appear to be weighing those positives against a relatively elevated earnings multiple. Wall Street Analysts Think Deere Is a Good Investment
• Negative Sentiment: Agriculture-cycle and market risks persist: Weak farm fundamentals continue to pressure demand for large agricultural machinery. Earlier selling pressure was attributed to profit-taking and broader industrial-stock weakness as Treasury yields rose, while the median reported analyst price target of $646.25 is below the latest trading level. Why Deere Stock Is Down Today
• Negative Sentiment: Insider selling is a cautionary signal: Reported insider activity over the past six months consisted of sales rather than purchases, which may reinforce concerns about limited near-term upside after the stock’s strong advance.

Deere & Company Stock Up 2.9%

Deere & Company stock opened at $686.77 on Friday. Deere & Company has a 1-year low of $433.00 and a 1-year high of $721.22. The firm's fifty day simple moving average is $650.46 and its 200-day simple moving average is $606.24. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $185.17 billion, a P/E ratio of 38.15, a P/E/G ratio of 2.44 and a beta of 0.86.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly 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. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the company posted $4.75 EPS. The firm's revenue was up 6.2% on a year-over-year basis. Sell-side analysts forecast that Deere & Company will post 18.12 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. Deere & Company's payout ratio is presently 36.00%.

About Deere & Company

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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