Mirae Asset Global Investments Co. Ltd. Makes New $60.05 Million Investment in Deere & Company $DE

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Deere & Company (NYSE:DE) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 89,422 shares of the industrial products company’s stock, valued at approximately $60,051,000.

Other hedge funds have also added to or reduced their stakes in the company. Baxter Bros Inc. bought a new stake in Deere & Company in the 2nd quarter valued at $1,707,000. Global Retirement Partners LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth $3,890,000. Nykredit A S bought a new stake in Deere & Company during the second quarter worth about $44,378,000. TRB Wealth Management LLC acquired a new position in Deere & Company during the second quarter valued at approximately $623,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Deere & Company by 11.8% during the 2nd quarter. NewEdge Advisors LLC now owns 43,459 shares of the industrial products company’s stock valued at $27,567,000 after purchasing an additional 4,586 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company News Summary

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

• Positive Sentiment: Deere was largely insulated from the machinery-sector selloff that hit Caterpillar after its moderate outlook. The relative resilience suggests investors viewed Deere’s farm-equipment exposure and outlook more favorably. Caterpillar Drops 7% as Moderate Sales Outlook Overshadows Beat; Deere Sits Out the Selloff
• Positive Sentiment: Analysts highlighted smart-farming technology, automation and cost controls as potential support for Deere, particularly as long-term agricultural demand and equipment investment improve. Zacks Industry Outlook Highlights Deere & Co., Kubota and CNH Industrial
• Positive Sentiment: One valuation analysis estimates Deere may be undervalued by approximately 16%, with cybersecurity developments adding a potential catalyst if the company can strengthen its technology and risk-management position. Deere Stock May Be 16% Undervalued on AI Cyberattack News
• Neutral Sentiment: Analysts expect Deere’s upcoming fourth-quarter report to show a single-digit increase in profit, keeping earnings expectations in focus ahead of the release. Deere & Company’s Earnings: What to Expect
• Negative Sentiment: Wheat’s prolonged decline is pressuring farmers’ incomes and balance sheets, which could eventually reduce demand for new agricultural equipment or delay replacement purchases. Farmers Are Getting Crushed as Wheat Slides for a Record Stretch

Deere & Company Stock Down 0.1%

DE opened at $675.03 on Monday. The company has a market cap of $182.00 billion, a P/E ratio of 37.50, a P/E/G ratio of 2.47 and a beta of 0.89. Deere & Company has a 12 month low of $454.50 and a 12 month high of $721.22. The business’s 50-day moving average price is $663.79 and its 200-day moving average price is $604.16. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last issued its 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. The company had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $4.75 earnings per share. On average, equities analysts expect that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio is 36.00%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DE. Nomura raised Deere & Company to a “buy” rating in a report on Monday, August 31st. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a research report on Monday, August 24th. Barclays increased their price objective on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Finally, Truist Financial dropped their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday, August 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.