Pallas Capital Advisors LLC Buys Shares of 1,759 Deere & Company $DE

Key Points

• Pallas Capital Advisors purchased 1,759 Deere shares worth approximately $1.12 million in the second quarter, while institutional investors collectively own 68.58% of the company.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and average price target of $641.98, although several firms recently lowered their targets.
• Deere’s latest quarter exceeded expectations, with earnings of $6.55 per share and revenue of $13.37 billion, while investors remain focused on agricultural spending, production costs and upcoming guidance.

Pallas Capital Advisors LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,759 shares of the industrial products company's stock, valued at approximately $1,116,000.

Other large investors also recently modified their holdings of the company. Anchyra Partners LLC grew its holdings in Deere & Company by 0.5% during the first quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after purchasing an additional 17 shares during the period. William B. Walkup & Associates Inc. lifted its position 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 valued at $1,638,000 after buying an additional 17 shares during the last quarter. Advisortrust Partners LLC lifted its position in shares of Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company's stock valued at $515,000 after buying an additional 18 shares during the last quarter. Cerro Pacific Wealth Advisors LLC grew its stake in shares of Deere & Company by 0.6% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after acquiring an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Deere & Company by 2.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock worth $379,000 after acquiring an additional 19 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

DE has been the topic of a number of research reports. Raymond James Financial lowered their price objective on Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research note on Friday, May 22nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research report on Friday. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research note on Sunday, July 5th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Fourteen 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $641.98.

Deere & Company News Roundup

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

• Positive Sentiment: Analysts expect Deere’s upcoming quarter to show modest year-over-year growth, with projected earnings of approximately $4.79 per share and revenue of $10.78 billion. Estimates have generally moved higher, which could support the stock if Deere delivers or raises its outlook. Deere Earnings Loom As Precision Agriculture Narrative Keeps Fair Value In Focus
• Positive Sentiment: The precision-agriculture investment story remains a long-term potential catalyst. Deere’s technology and automation initiatives could improve productivity and support valuation if adoption accelerates. Are Wall Street Analysts Bullish on Deere & Company Stock?
• Neutral Sentiment: Deere is approaching its third-quarter earnings release with investor attention focused on revenue, margins, production levels and management’s outlook. The stock has generated strong longer-term returns, raising the bar for another positive surprise. Insights Into Deere Q3: Wall Street Projections for Key Metrics
• Negative Sentiment: Weak agricultural spending and elevated production costs could pressure Deere’s earnings and margins even if headline revenue and profit estimates improve. This makes the upcoming guidance particularly important for the share price. Deere Set to Report Q3 Earnings
• Negative Sentiment: JPMorgan cut its Deere price target to $570, signaling that the bank sees downside risk relative to recent trading levels. JPMorgan Cuts Deere Price Target
• Negative Sentiment: ARK Invest reportedly exited about $60 million of its Deere position while increasing investments in technology stocks. Although the sale does not change Deere’s fundamentals, it adds selling pressure and reinforces concerns about near-term investor preference for AI-oriented growth companies. ARK Invest Exits Deere Position

Deere & Company Stock Down 1.8%

Shares of NYSE DE opened at $589.18 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $159.04 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.57 and a beta of 0.90. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The business has a 50-day simple moving average of $603.98 and a two-hundred day simple moving average of $589.29.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating 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 firm had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. During the same period in the prior year, the business posted $6.64 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 18.21 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Tuesday, June 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company's dividend payout ratio is 36.71%.

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.

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