Financiere des Professionnels Fonds d investissement inc. Invests $10.76 Million in Deere & Company $DE

Key Points

• Financiere des Professionnels Fonds d’investissement inc. disclosed a new first-quarter stake in Deere & Company, buying 19,107 shares valued at about $10.76 million.
• Other institutional investors also adjusted their Deere holdings, and overall institutional ownership stands at 68.58% of the company’s stock.
• Deere recently beat earnings expectations, reporting $6.55 EPS versus the $5.70 consensus, while revenue came in at $13.37 billion; the company also declared a quarterly dividend of $1.62 per share.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Deere & Company (NYSE:DE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,107 shares of the industrial products company's stock, valued at approximately $10,763,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Anchyra Partners LLC grew its stake 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 worth $1,797,000 after acquiring an additional 17 shares during the period. William B. Walkup & Associates Inc. lifted its stake in shares of Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock worth $1,638,000 after purchasing an additional 17 shares during the period. Cerro Pacific Wealth Advisors LLC grew its position in shares of Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after purchasing an additional 19 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 19 shares during the period. Finally, Root Financial Partners LLC increased its stake in Deere & Company by 2.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock valued at $410,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. DA Davidson reduced their target price on Deere & Company from $775.00 to $685.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Oppenheimer reaffirmed an "outperform" rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Citigroup increased their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a report on Tuesday. Wolfe Research raised their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $642.98.

Deere & Company News Summary

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

• Positive Sentiment: Deere settled its FTC right-to-repair lawsuit, paving the way for broader repair access and potentially stronger customer service relationships. Will Deere Benefit From Settling Its FTC Right-to-Repair Dispute?
• Positive Sentiment: Another report highlighted Deere as a stock to watch in the agriculture equipment sector, reinforcing investor attention on the name. Promising Agriculture Stocks To Watch Today - July 13th
• Neutral Sentiment: Analyst-style comparisons versus Alamo Group focused on valuation rather than any new operating development for Deere. ALG vs. DE: Which Stock Is the Better Value Option?
• Neutral Sentiment: An agricultural machinery components industry report mentioned Deere among major players and cited themes like repair access and precision farming, but it did not include Deere-specific financial news. Agricultural Machinery Components Market Report Published, Profiles Deere, CNH Industrial, AGCO, Kubota, and 11 Other Companies

Deere & Company Trading Up 1.5%

NYSE:DE opened at $598.56 on Friday. The business's 50-day moving average is $582.10 and its two-hundred day moving average is $571.13. The firm has a market capitalization of $161.58 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.18 and a beta of 0.89. Deere & Company has a 12 month low of $433.00 and a 12 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.

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

Deere & Company Dividend Announcement

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

Deere & 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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