Public Employees Retirement System of Ohio Takes Position in Deere & Company $DE

Key Points

• Public Employees Retirement System of Ohio acquired 93,025 Deere shares worth approximately $59 million, while institutional investors and hedge funds collectively own 68.58% of the company.
• Deere reported a strong fiscal third quarter, with EPS of $5.10 exceeding the $4.69 consensus and revenue of $12.61 billion surpassing expectations. Net income rose 7% year over year, supported by factory output, cost controls, pricing, and construction and turf demand.
• Despite softer agricultural conditions, analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and a $653.48 average price target. Deere also declared a $1.62 quarterly dividend, though its roughly 35-times earnings valuation leaves the stock vulnerable if farm-equipment demand weakens.

Public Employees Retirement System of Ohio purchased a new position in Deere & Company (NYSE:DE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 93,025 shares of the industrial products company's stock, valued at approximately $59,009,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $6,124,000. Proficio Capital Partners LLC acquired a new stake in Deere & Company during the 2nd quarter valued at $1,038,000. Pure Financial Advisors LLC acquired a new stake in Deere & Company during the 2nd quarter valued at $727,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Deere & Company in the second quarter valued at $130,000. Finally, Sanchez Levi Garrett acquired a new stake in shares of Deere & Company in the second quarter worth $353,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Better-than-expected earnings and execution: Deere reported fiscal third-quarter earnings per share of $5.10, above the $4.69 analyst consensus, while revenue reached $12.61 billion versus expectations of $10.81 billion. Net income increased 7% year over year to $1.379 billion. Management cited strong factory output, disciplined cost control, favorable price realization, and steady construction and turf demand. Deere’s Q2 Earnings Call: Our Top 5 Analyst Questions
• Positive Sentiment: Construction and AI opportunities support diversification: Coverage highlighted growth in less traditional areas, including construction, where demand is benefiting from technology and infrastructure investment. Deere also entered a $10 million, three-year R&D partnership with Reservoir to accelerate rugged artificial-intelligence applications for high-value crop agriculture. Deere quarterly profits and construction growth Reservoir AI partnership with John Deere
• Positive Sentiment: Analyst support and shareholder return: DA Davidson raised its price target to $760, while RBC reaffirmed an “Outperform” rating. Deere also declared a quarterly dividend of $1.62 per share, payable November 9 to shareholders of record September 30. DA Davidson raises Deere price target RBC reaffirms Deere Outperform rating Deere quarterly dividend announcement
• Neutral Sentiment: Mixed segment picture: The earnings commentary suggests Deere’s diversified businesses, particularly construction and turf, are offsetting softer conditions in its largest agriculture-related division. Investors may therefore remain focused on the durability of farm-equipment demand and the company’s outlook.
• Negative Sentiment: Valuation leaves less room for disappointment: With the shares trading at roughly 35 times earnings, investors may be taking profits or showing caution despite the earnings beat, particularly if agricultural weakness persists or growth in newer businesses takes longer to scale.

Deere & Company Trading Down 1.9%

Deere & Company stock opened at $622.67 on Friday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company's fifty day moving average price is $610.78 and its two-hundred day moving average price is $593.08. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The company has a market capitalization of $168.08 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 2.62 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $4.75 EPS. On average, analysts forecast that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company's dividend payout ratio (DPR) is 36.00%.

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Citigroup increased their price objective on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a research note on Friday, August 21st. JPMorgan Chase & Co. upped their target price on Deere & Company from $570.00 to $585.00 and gave the company a "neutral" rating in a report on Friday, August 21st. Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a report on Tuesday, August 18th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Finally, Barclays upped their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $653.48.

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.

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