Deere & Company $DE Stock Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Deere stake by 1.8% in the third quarter, adding 5,770 shares to hold 324,550 shares worth about $218 million.
• Analysts give Deere a “Moderate Buy” consensus, with a consensus price target of $688.10; 17 analysts rate it Buy and eight rate it Hold.
• Deere beat quarterly earnings and revenue expectations, reporting EPS of $5.10 and revenue of $12.61 billion. It also announced a quarterly dividend of $1.62 per share.

Pictet Asset Management Holding SA increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,550 shares of the industrial products company's stock after purchasing an additional 5,770 shares during the quarter. Pictet Asset Management Holding SA owned 0.12% of Deere & Company worth $217,956,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in Deere & Company by 5.2% in the third quarter. Parallel Advisors LLC now owns 4,102 shares of the industrial products company's stock worth $2,754,000 after acquiring an additional 201 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $207,000. Abacus Wealth Partners LLC increased its position in shares of Deere & Company by 2.2% in the 3rd quarter. Abacus Wealth Partners LLC now owns 848 shares of the industrial products company's stock valued at $569,000 after purchasing an additional 18 shares during the last quarter. Asset Dedication LLC increased its position in shares of Deere & Company by 1.7% in the 3rd quarter. Asset Dedication LLC now owns 1,930 shares of the industrial products company's stock valued at $1,296,000 after purchasing an additional 33 shares during the last quarter. Finally, Plancorp LLC raised its holdings in shares of Deere & Company by 31.7% in the 3rd quarter. Plancorp LLC now owns 1,863 shares of the industrial products company's stock valued at $1,259,000 after purchasing an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DE. Oppenheimer lifted their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. Bank of America boosted their target price on shares of Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Barclays increased their target price on Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 24th. Nomura upgraded Deere & Company to a "buy" rating in a research note on Monday, August 31st. Finally, Seaport Research Partners set a $570.00 price target on Deere & Company in a report on Friday, August 14th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $688.10.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $671.99 on Friday. The firm has a market capitalization of $181.18 billion, a P/E ratio of 37.33, a P/E/G ratio of 1.90 and a beta of 0.89. Deere & Company has a 52 week low of $455.90 and a 52 week high of $721.22. 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 firm's 50 day moving average is $667.02 and its two-hundred day moving average is $608.14.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion for 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 firm's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the company earned $4.75 earnings per share. Research analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Deere & Company News Summary

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

• Positive Sentiment: Deere’s See & Spray technology was cited as an example of AI improving farm productivity; the system can reduce pesticide use by as much as 75%. That efficiency potential may support customer economics and demand for Deere’s precision-agriculture offerings. Are eBay and Deere stocks under-the-radar AI beneficiaries?
• Positive Sentiment: A Zacks article included Deere among AgriTech and food-innovation stocks, pointing to strategic investment, operational improvements, and growth opportunities as reasons it may suit investors seeking portfolio stability. 2 AgriTech and Food Innovation Stocks to Buy for a Stable Portfolio
• Neutral Sentiment: Recent coverage compares Deere with Kubota (KUBTY) for value investors but the provided summaries do not say which company comes out ahead. The comparison alone offers no clear new signal on Deere’s valuation. KUBTY vs. DE: Which Stock Should Value Investors Buy Now?
• Negative Sentiment: Deere plans to close two Iowa facilities and consolidate production, including moving small-planter production and shifting work to its Ankeny plant. The restructuring could improve efficiency over time, but closures and associated disruption may concern investors in the near term. John Deere Consolidates U.S. Plants, Will Close 2 Iowa Factories

Deere & Company Company Profile

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