Deere & Company $DE Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Deere & Company (NYSE:DE) during the third quarter, HoldingsChannel reports. The institutional investor acquired 89,422 shares of the industrial products company’s stock, valued at approximately $60,051,000.

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

More Deere & Company News

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore upgraded Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target for the company in a research note on Wednesday, September 2nd. UBS Group cut their target price on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research note on Friday, August 21st. Raymond James Financial boosted their price target on shares of Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Bank of America raised their price target on Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Finally, DA Davidson upped their price target on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Stock Performance

DE stock opened at $675.03 on Monday. Deere & Company has a twelve month low of $454.50 and a twelve month high of $721.22. The business’s fifty day simple moving average is $663.79 and its two-hundred day simple moving average is $604.16. The firm has a market cap of $182.00 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 2.47 and a beta of 0.89. The company has a quick ratio of 1.89, a current ratio of 2.10 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 analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $4.75 earnings per share. Analysts predict that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors 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 of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Deere & 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.