Independent Financial Group LLC acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,244 shares of the industrial products company's stock, valued at approximately $2,954,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthfront Advisers LLC raised its position in Deere & Company by 11.6% in the 1st quarter. Wealthfront Advisers LLC now owns 32,960 shares of the industrial products company's stock valued at $18,566,000 after purchasing an additional 3,424 shares during the last quarter. NerdWallet Wealth Partners LLC bought a new stake in shares of Deere & Company during the first quarter worth $224,000. Twin Capital Management Inc. acquired a new stake in shares of Deere & Company in the first quarter valued at $1,129,000. Midwest Professional Planners LTD. increased its stake in shares of Deere & Company by 2.3% in the first quarter. Midwest Professional Planners LTD. now owns 1,701 shares of the industrial products company's stock valued at $958,000 after buying an additional 38 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Deere & Company in the first quarter valued at about $84,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. DA Davidson reissued a "buy" rating and set a $685.00 price objective on shares of Deere & Company in a report on Friday. Truist Financial upped their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Oppenheimer reissued an "outperform" rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Bank of America dropped their price objective on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Finally, Weiss Ratings raised Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $642.98.
Check Out Our Latest Research Report on Deere & Company
Deere & Company News Roundup
Here are the key news stories impacting Deere & Company this week:
- Positive Sentiment: DA Davidson reiterated a buy rating on Deere & Company and lifted its price target to $685, signaling continued analyst confidence in upside potential. Benzinga
- Neutral Sentiment: Deere was highlighted in broader agriculture and industrial stock roundups, keeping investor attention on the company as a key name in the farm equipment sector. Best Agriculture Stocks To Watch Now - July 14th
- Neutral Sentiment: Erste Group Bank slightly lowered its FY2027 EPS forecast for Deere, which is a minor cautionary note but not a major change to longer-term earnings expectations. MarketBeat report on Deere EPS estimate cut
- Negative Sentiment: Deere also remains tied to a broader industrial-sector backdrop that has lagged the market recently, which can weigh on sentiment toward cyclical names. 1 Industrials Stock to Target This Week and 2 We Find Risky
Deere & Company Price Performance
Shares of DE stock opened at $597.56 on Friday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The stock has a market cap of $161.31 billion, a PE ratio of 33.86, a PEG ratio of 2.21 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm's 50 day moving average price is $582.55 and its two-hundred day moving average price is $571.31.
Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter in the previous year, the company posted $6.64 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 18.13 EPS for the current year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. 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 dividend payout ratio is presently 36.71%.
Deere & Company Profile
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Free Report)
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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