Deere & Company $DE Stock Purchased by Foster Group Inc.

Foster Group Inc. grew its position in shares of Deere & Company (NYSE:DE) by 6.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,715 shares of the industrial products company’s stock after acquiring an additional 790 shares during the quarter. Foster Group Inc.’s holdings in Deere & Company were worth $8,539,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in DE. BlackRock Inc. bought a new position in Deere & Company during the second quarter valued at $11,763,504,000. Bank of America Corp DE bought a new stake in shares of Deere & Company during the second quarter worth $1,685,093,000. Bank of New York Mellon Corp bought a new position in shares of Deere & Company in the second quarter worth about $1,259,279,000. Legal & General Group Plc purchased a new position in Deere & Company in the 2nd quarter worth about $957,456,000. Finally, Wellington Management Group LLP boosted its position in Deere & Company by 84.3% in the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after buying an additional 1,412,694 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 2.6%

Shares of Deere & Company stock opened at $649.32 on Wednesday. The company has a market cap of $175.07 billion, a P/E ratio of 35.15, a price-to-earnings-growth ratio of 2.31 and a beta of 0.86. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $721.22. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm has a 50-day simple moving average of $656.14 and a two-hundred day simple moving average of $610.53.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the previous year, the firm earned $4.75 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 18.12 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, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.62 dividend. 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 is presently 36.00%.

Analyst Ratings Changes

Several equities research analysts have weighed in on DE shares. CICC Research began coverage on Deere & Company in a report on Sunday, September 13th. They issued an “outperform” rating for the company. UBS Group dropped their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Citigroup upped 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. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, September 21st. Finally, Truist Financial lowered their price objective on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research report on Monday, August 24th. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $688.10.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Deere is holding up better than Caterpillar as concerns grow that Caterpillar’s data-center power valuation premium may be unwinding. The divergence is encouraging investors to view Deere as a comparatively less exposed industrial stock. Caterpillar Sinks 5% as Deere Edges Higher
• Positive Sentiment: The Deere & Caterpillar comparison is drawing attention to divergent Wall Street narratives. Deere’s relative performance may reinforce the view that its agricultural-equipment recovery offers a more traditional and potentially steadier industrial growth story. Which Industrials Stock Do Analysts Like Better: Deere or Caterpillar?
• Positive Sentiment: The John Deere Foundation announced an $18.5 million farm-to-plate initiative supporting farmers and hunger-relief programs. The announcement strengthens Deere’s corporate-responsibility profile, although it is unlikely to materially affect near-term earnings. John Deere Foundation Announces $18.5 Million Farm-to-Plate Strategy
• Neutral Sentiment: Earlier trading showed Deere and other industrial stocks pressured by surging Treasury yields, highlighting the risk that elevated interest rates could weigh on premium valuations such as DE’s. Caterpillar and Deere Slide as Treasury Yields Surge
• Negative Sentiment: An FTC-USDA inquiry into competition in agricultural equipment could increase regulatory scrutiny of Deere’s distribution, repair, and technology practices. Public comments are open through Dec. 7, creating an ongoing uncertainty overhang. Ag Equipment’s Recovery Trade Meets Washington’s Scrutiny

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company’s products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.