Wealthfront Advisers LLC Acquires 3,424 Shares of Deere & Company $DE

Key Points

• Wealthfront Advisers LLC boosted its Deere stake by 11.6% in the first quarter, buying 3,424 additional shares and bringing its total holdings to 32,960 shares valued at about $18.6 million.
• Deere shares were trading around $598.56, near their 50-day and 200-day moving averages, with the company carrying a market cap of $161.6 billion and a dividend yield of about 1.1%.
• Deere’s latest quarterly results beat expectations, with EPS of $6.55 versus $5.70 expected and revenue of $13.37 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $642.98.

Wealthfront Advisers LLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 11.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,960 shares of the industrial products company's stock after buying an additional 3,424 shares during the quarter. Wealthfront Advisers LLC's holdings in Deere & Company were worth $18,566,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock valued at $10,514,053,000 after acquiring an additional 198,332 shares during the period. State Street Corp raised its holdings in Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after purchasing an additional 97,049 shares during the period. Capital World Investors lifted its position in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after purchasing an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Deere & Company by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company's stock valued at $2,609,149,000 after purchasing an additional 17,269 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.5%

Shares of DE opened at $598.56 on Friday. The business's 50 day moving average is $582.10 and its 200 day moving average is $571.13. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. 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 $161.58 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 2.18 and a beta of 0.89.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping 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 business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the company posted $6.64 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts expect that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's payout ratio is 36.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DE. JPMorgan Chase & Co. raised their price objective on Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Jefferies Financial Group raised shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 target price for the company in a report on Wednesday, April 8th. Truist Financial raised their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Bank of America lowered their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Finally, Wolfe Research upped their price target on shares of Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 31st. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $642.98.

Deere & Company News Summary

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

• Positive Sentiment: Deere settled its FTC right-to-repair lawsuit, paving the way for broader repair access and potentially stronger customer service relationships. Will Deere Benefit From Settling Its FTC Right-to-Repair Dispute?
• Positive Sentiment: Another report highlighted Deere as a stock to watch in the agriculture equipment sector, reinforcing investor attention on the name. Promising Agriculture Stocks To Watch Today - July 13th
• Neutral Sentiment: Analyst-style comparisons versus Alamo Group focused on valuation rather than any new operating development for Deere. ALG vs. DE: Which Stock Is the Better Value Option?
• Neutral Sentiment: An agricultural machinery components industry report mentioned Deere among major players and cited themes like repair access and precision farming, but it did not include Deere-specific financial news. Agricultural Machinery Components Market Report Published, Profiles Deere, CNH Industrial, AGCO, Kubota, and 11 Other Companies

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.

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