ASK Capital Investment Managers LLC Purchases 2,038 Shares of Deere & Company $DE

ASK Capital Investment Managers LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,038 shares of the industrial products company’s stock, valued at approximately $1,369,000. Deere & Company accounts for approximately 1.5% of ASK Capital Investment Managers LLC’s holdings, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. XY Planning Network Inc. boosted its holdings in Deere & Company by 2.3% in the third quarter. XY Planning Network Inc. now owns 765 shares of the industrial products company’s stock worth $514,000 after acquiring an additional 17 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Deere & Company by 10.2% during the third quarter. Salem Investment Counselors Inc. now owns 1,388 shares of the industrial products company’s stock worth $934,000 after acquiring an additional 128 shares during the last quarter. Signal Advisors Wealth LLC grew its stake in shares of Deere & Company by 8.6% during the third quarter. Signal Advisors Wealth LLC now owns 555 shares of the industrial products company’s stock worth $373,000 after acquiring an additional 44 shares during the last quarter. Foster Group Inc. increased its holdings in shares of Deere & Company by 6.6% during the third quarter. Foster Group Inc. now owns 12,715 shares of the industrial products company’s stock valued at $8,539,000 after acquiring an additional 790 shares in the last quarter. Finally, Krilogy Financial LLC increased its holdings in shares of Deere & Company by 6.2% during the third quarter. Krilogy Financial LLC now owns 2,733 shares of the industrial products company’s stock valued at $1,729,000 after acquiring an additional 159 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 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

Analysts Set New Price Targets

Several brokerages recently commented on DE. CICC Research initiated coverage on shares of Deere & Company in a research report on Sunday, September 13th. They issued an “outperform” rating for the company. Nomura raised shares of Deere & Company to a “buy” rating in a research report on Monday, August 31st. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Seaport Research Partners set a $570.00 price target on shares of Deere & Company in a research note on Friday, August 14th. Finally, Raymond James Financial upped their price target on shares of Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Stock Performance

Shares of DE opened at $649.32 on Wednesday. The stock has a 50-day moving average of $656.14 and a two-hundred day moving average of $610.53. Deere & Company has a one year low of $433.00 and a one year 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 stock has a market cap of $175.07 billion, a P/E ratio of 36.07, a P/E/G ratio of 2.31 and a beta of 0.86.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.75 EPS. As a group, research analysts predict that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Announces Dividend

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

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.