Y Intercept Hong Kong Ltd Buys New Shares in Deere & Company $DE

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Deere & Company during the first quarter, buying 3,031 shares worth about $1.7 million.
• Deere recently posted better-than-expected quarterly results, with EPS of $6.55 versus $5.70 expected and revenue of $13.37 billion, up 5.4% year over year.
• The company declared a quarterly dividend of $1.62 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $642.23.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,031 shares of the industrial products company's stock, valued at approximately $1,707,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $1,715,633,000. Capital World Investors grew its holdings in shares of Deere & Company by 53.9% during the 4th 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 during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Deere & Company by 1,725.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock worth $932,870,000 after purchasing an additional 1,893,972 shares during the period. M&T Bank Corp raised its position in Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the period. Finally, Diamant Asset Management Inc. lifted its stake in Deere & Company by 56,230.0% in the first quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company's stock worth $343,961,000 after purchasing an additional 609,533 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Key Deere & Company News

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

• Positive Sentiment: Deere received some supportive commentary from Jim Cramer, who said the stock is “incredible” and suggested it may have more upside, which could help sentiment among traders. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Positive Sentiment: Deere and the FTC reached a settlement that may ease regulatory overhang by ending the antitrust dispute and avoiding a prolonged legal fight. John Deere owners will get the right to repair their own equipment under a new FTC settlement
• Positive Sentiment: A separate industry report points to steady growth in the U.S. construction equipment market through 2031, which supports the longer-term demand outlook for Deere’s equipment business. U.S. Construction Equipment Market Analysis 2026-2031
• Neutral Sentiment: Deere also offered a two-year extension to union workers, a labor-related development that could help avoid near-term disruption but does not directly change the company’s demand outlook. Deere & Co. offers 'unexpected' 2-year extension to union workers
• Negative Sentiment: The biggest negative catalyst is the right-to-repair settlement itself, which gives customers more freedom to fix equipment and could reduce Deere’s pricing power in service and maintenance. Wisconsin DOJ wins antitrust case against John Deere

Deere & Company Stock Down 0.7%

DE stock opened at $592.49 on Friday. The business has a 50 day moving average of $581.19 and a 200 day moving average of $566.85. The firm has a market cap of $159.94 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 2.21 and a beta of 0.89. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $6.64 EPS. On average, research analysts forecast that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. 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 dividend payout ratio is presently 36.71%.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Citigroup lowered their target price on Deere & Company from $625.00 to $595.00 and set a "neutral" rating for the company in a research note on Friday, May 22nd. Bank of America decreased their price target on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Truist Financial boosted their price objective on Deere & Company from $759.00 to $812.00 and gave the company a "buy" rating in a research report on Thursday, July 2nd. Oppenheimer reissued an "outperform" rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Finally, DA Davidson cut their target price on shares of Deere & Company from $775.00 to $685.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $642.23.

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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