Deere & Company $DE is M&T Bank Corp's 6th Largest Position

Key Points

• M&T Bank Corp boosted its stake in Deere & Company by 1,721,239 shares in Q4 to a total of 1,864,701 shares, making DE its 6th largest holding at about 2.6% of M&T’s portfolio and worth roughly $868.1 million (≈0.69% of Deere).
• Deere posted a strong quarter with EPS of $2.42 versus $1.90 expected and revenue of $9.61 billion versus $7.50 billion expected, and announced a quarterly dividend of $1.62 ($6.48 annual, ~1.1% yield).
• Analysts have raised targets (e.g., RBC $736, Morgan Stanley $730, DA Davidson $775) leaving a consensus Moderate Buy and an average price target of $655.45, while a recent right-to-repair settlement reduces litigation risk but could pressure aftermarket/service margins and farmer sentiment.

M&T Bank Corp grew its holdings in Deere & Company (NYSE:DE - Free Report) by 1,199.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,864,701 shares of the industrial products company's stock after buying an additional 1,721,239 shares during the quarter. Deere & Company makes up about 2.6% of M&T Bank Corp's investment portfolio, making the stock its 6th largest holding. M&T Bank Corp owned approximately 0.69% of Deere & Company worth $868,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Advocates LLC purchased a new stake in Deere & Company in the 3rd quarter worth approximately $25,000. Key Capital Management INC purchased a new stake in Deere & Company in the 4th quarter worth approximately $27,000. Activest Wealth Management lifted its holdings in Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock worth $30,000 after buying an additional 27 shares during the period. Wealth Watch Advisors INC purchased a new stake in Deere & Company in the 3rd quarter worth approximately $32,000. Finally, United Community Bank lifted its stake in shares of Deere & Company by 67.3% in the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company's stock valued at $42,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank Of Canada raised their target price on Deere & Company from $541.00 to $736.00 and gave the company an "outperform" rating in a research note on Friday, February 20th. Morgan Stanley raised their target price on Deere & Company from $560.00 to $730.00 and gave the company an "overweight" rating in a research note on Monday, February 23rd. Bank of America raised their target price on Deere & Company from $502.00 to $672.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. BMO Capital Markets raised their target price on Deere & Company from $460.00 to $500.00 and gave the company a "market perform" rating in a research note on Friday, February 20th. Finally, DA Davidson raised their target price on Deere & Company from $580.00 to $775.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $655.45.

Key Stories Impacting Deere & Company

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

• Positive Sentiment: The settlement removes a major litigation overhang and avoids a finding of wrongdoing, limiting headline risk and an uncertain legal expense stream relative to Deere’s large market cap. Deere’s Right to Repair Settlement and Software Access Shift Might Change The Case For Investing In (DE)
• Positive Sentiment: Deere’s underlying results remain strong — recent quarterly revenue growth and an EPS beat support valuation and cash flow prospects, which helps offset settlement-sized one-time costs.
• Neutral Sentiment: The company’s agreement to broaden access to manuals, tools and diagnostics could improve farmer relations and reduce regulatory risk, but the operational and financial implications are ambiguous and will depend on implementation details. John Deere agrees to pay $99 million to farmers over claims they’re monopolizing repairs and overcharging farmers
• Negative Sentiment: Some farmers say repair costs remain a growing burden despite the settlement, suggesting ongoing dissatisfaction, reputational risk and potential for continued political/regulatory scrutiny. That could keep pressure on shares until fixes are operational and effective. Farmers say repair costs remain growing burden despite Deere settlement
• Negative Sentiment: Investors are also focused on potential long-term impacts to Deere’s aftermarket/service margins if broader access reduces captive-service pricing or parts revenue; that structural concern helps explain the share weakness. John Deere Lawsuit Ends In $99M Payout For Farmers

Deere & Company Stock Down 1.2%

Shares of NYSE:DE opened at $587.37 on Wednesday. The stock has a fifty day simple moving average of $595.17 and a two-hundred day simple moving average of $524.05. The stock has a market capitalization of $158.65 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 2.08 and a beta of 0.98. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.52. The business had revenue of $9.61 billion during the quarter, compared to analysts' expectations of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm's quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.19 earnings per share. On average, research analysts anticipate that Deere & Company will post 18 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is presently 36.53%.

About Deere & Company

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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