Osterweis Capital Management Inc. Purchases New Position in Deere & Company $DE

Key Points

• Osterweis Capital Management acquired 43,068 Deere shares during the second quarter, worth approximately $27.3 million. Institutional investors collectively own 68.58% of the company.
• Deere reported a stronger-than-expected fiscal third quarter, with EPS of $5.10 versus $4.69 expected and revenue of $12.61 billion, up 6.2% year over year. Analysts rate the stock “Moderate Buy,” with a consensus price target of $653.48.
• Deere’s outlook is supported by construction and forestry growth and potential agricultural recovery, but investors remain focused on valuation, farm-cycle weakness and labor tensions after UAW members rejected a proposed contract extension.

Osterweis Capital Management Inc. acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 43,068 shares of the industrial products company's stock, valued at approximately $27,319,000.

Several other institutional investors have also added to or reduced their stakes in DE. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth $27,000. Kilter Group LLC bought a new position in shares of Deere & Company during the second quarter valued at $29,000. Timmons Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $29,000. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $30,000. Finally, Solstein Capital LLC purchased a new stake in shares of Deere & Company during the second quarter valued at $30,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DE shares. JPMorgan Chase & Co. boosted their target price on Deere & Company from $570.00 to $585.00 and gave the stock a "neutral" rating in a research report on Friday. Truist Financial dropped their price target on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a report on Monday. Royal Bank Of Canada reiterated an "outperform" rating and issued a $752.00 price target on shares of Deere & Company in a research note on Monday. DA Davidson boosted their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the company a "buy" rating in a report on Monday. Finally, Citigroup increased their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the company a "neutral" rating in a research report on Friday. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $653.48.

More Deere & Company News

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

• Positive Sentiment: Analysts raised their outlook. DA Davidson lifted its price target to $760 from $685 and maintained a “buy” rating, while RBC reaffirmed its “outperform” rating with a $752 target. Analysts cited Deere’s better-than-expected fiscal third quarter, improving equipment orders and prospects for an agriculture-sector recovery. DA Davidson analyst action Deere poised for recovery
• Positive Sentiment: Construction and Forestry is providing meaningful growth support. Higher volumes, pricing gains, demand for construction equipment and increased adoption of Deere’s technology are strengthening the segment and could help offset continued weakness or cyclicality in agriculture. Construction and Forestry growth outlook
• Positive Sentiment: Recent earnings exceeded expectations. Deere reported fiscal third-quarter EPS of $5.10 versus the $4.69 consensus, while revenue of $12.61 billion surpassed the $10.81 billion estimate and increased 6.2% year over year. The beat has reinforced the view that Deere is positioned for a recovery, although agriculture remained comparatively weaker. Deere earnings and farm cycle
• Neutral Sentiment: Valuation and the farm cycle remain investor considerations. Deere’s recent rally reflects stronger earnings and recovery expectations, but investors are weighing whether the stock has moved ahead of the underlying agricultural-equipment cycle.
• Negative Sentiment: UAW members rejected Deere’s proposed two-year contract extension. The vote sets up potentially contentious negotiations ahead of the 2027 contract expiration. UAW President Shawn Fain criticized the proposal as an attempt to bypass the normal bargaining process, raising the risk of higher labor costs, operational disruption or an eventual strike. UAW rejects Deere contract extension

Deere & Company Stock Up 0.2%

NYSE DE opened at $648.46 on Tuesday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. 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 company has a market capitalization of $175.04 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 2.74 and a beta of 0.90. The stock's 50-day moving average price is $608.35 and its 200-day moving average price is $591.88.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm's revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.75 EPS. On average, equities research analysts predict that Deere & Company will post 18.23 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were 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 was Tuesday, June 30th. Deere & Company's dividend payout ratio is presently 36.00%.

Deere & Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source