Pinnacle West Asset Management Inc. Buys New Shares in Deere & Company $DE

Pinnacle West Asset Management Inc. bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,688 shares of the industrial products company's stock, valued at approximately $2,339,000. Deere & Company makes up 1.6% of Pinnacle West Asset Management Inc.'s holdings, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Deere & Company during the second quarter valued at approximately $27,000. Kilter Group LLC acquired a new position in shares of Deere & Company in the second quarter valued at $29,000. Portus Wealth Advisors LLC bought a new position in Deere & Company in the first quarter worth $32,000. Timmons Wealth Management LLC acquired a new stake in Deere & Company during the fourth quarter worth $29,000. Finally, Harborfront Financial Group LLC acquired a new stake in Deere & Company during the second quarter worth $39,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 4.5%

Shares of DE stock opened at $648.61 on Friday. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a market capitalization of $175.08 billion, a P/E ratio of 36.03, a P/E/G ratio of 2.63 and a beta of 0.90. The firm has a 50-day moving average price of $606.90 and a 200 day moving average price of $590.75. The company has a quick ratio of 1.95, a current ratio of 2.10 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. The firm 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 company's quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.75 earnings per share. Research analysts forecast that Deere & Company will post 18.23 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Deere & Company's payout ratio is presently 36.00%.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. 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 note on Friday. Robert W. Baird increased their price target on shares of Deere & Company from $525.00 to $640.00 and gave the stock a "neutral" rating in a research report on Friday. UBS Group decreased their price objective on Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a report on Friday. Oppenheimer increased their target price on Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, June 1st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $643.38.

Key Stories Impacting Deere & Company

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

• Positive Sentiment: Q3 earnings and revenue beat expectations. Deere reported earnings of $5.10 per share, up from $4.75 a year earlier, on revenue of $12.61 billion, which rose about 6% year over year and exceeded analyst estimates. Deere Reports Third Quarter Net Income
• Positive Sentiment: Management raised its fiscal 2026 outlook. Deere increased its net-income forecast to $4.75 billion-$5.00 billion and expects $5.0 billion-$5.5 billion in equipment-operations cash flow, improving confidence in profitability and cash generation. Deere Raises FY2026 Outlook
• Positive Sentiment: Construction and forestry provided the key growth engine. Demand for bulldozers, excavators and other earth-moving equipment is largely booked through the rest of the year, supported by data-center and energy-infrastructure construction tied to artificial-intelligence investment. Deere Lifts Sales Guidance
• Positive Sentiment: The agricultural cycle may be nearing a bottom. Executives characterized fiscal 2026 as the likely trough for the agricultural equipment cycle and pointed to improving early order trends and potentially stronger demand in 2027. Deere also recognized $110 million in tariff refunds during the quarter. DE Q3 Earnings Call Highlights
• Neutral Sentiment: Analyst reactions were mixed but generally reflected higher estimates. Robert W. Baird raised its target to $640 and JPMorgan increased its target to $585, while both retained neutral ratings. Other analysts lifted targets as high as $685, indicating expectations have improved but also that valuation and limited near-term upside remain concerns. Deere Analysts Increase Forecasts
• Negative Sentiment: Agriculture remains a constraint. Production and precision agriculture demand is still weak, and Bank of America cautioned that any recovery may be gradual rather than a sharp cyclical rebound. The stock’s elevated valuation could make it vulnerable if farm-market improvement is delayed.

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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