Deere & Company $DE Stock: Fifth Third Bancorp Cuts Stake

Fifth Third Bancorp trimmed its stake in shares of Deere & Company (NYSE:DE) by 0.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 260,938 shares of the industrial products company’s stock after selling 1,179 shares during the quarter. Fifth Third Bancorp’s holdings in Deere & Company were worth $175,233,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Deere & Company in the second quarter valued at about $27,000. Kilter Group LLC bought a new stake in Deere & Company during the second quarter worth about $29,000. Solstein Capital LLC acquired a new stake in Deere & Company during the second quarter worth about $30,000. Orion Capital Management LLC acquired a new stake in Deere & Company during the second quarter worth about $32,000. Finally, Markowski Investments bought a new position in Deere & Company in the 2nd quarter valued at about $34,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company News Summary

These are some of the DE news items that stood out recently:

• Positive Sentiment: ETF activity showed net interest in Deere on Nov. 6: 36 ETFs added shares while 11 reduced holdings, with reported purchases totaling $86.4 million. This may indicate institutional demand, though the data are several days old. ETFs Bought $86.4 Million of Deere
• Neutral Sentiment: Deere attracted increased attention from Zacks.com users, but the report offers no specific new company developments or financial information to explain that interest. Deere Is Attracting Investor Attention
• Negative Sentiment: Deere plans to close two Iowa plants and move some production to other U.S. facilities and Brazil, citing the need to align capacity with demand. The restructuring could improve efficiency over time, but closures and production shifts bring execution and workforce uncertainty. Deere to End Production at Two Iowa Plants

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DE shares. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research report on Monday, August 24th. DA Davidson increased their price target on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Evercore upgraded shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target on the stock in a research report on Wednesday, September 2nd. Nomura raised shares of Deere & Company to a “buy” rating in a research note on Monday, August 31st. Finally, Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Price Performance

Shares of DE stock opened at $691.45 on Thursday. The business has a fifty day simple moving average of $669.14 and a 200 day simple moving average of $610.65. The company has a market cap of $186.43 billion, a P/E ratio of 38.20, a P/E/G ratio of 1.95 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 has a twelve month low of $455.90 and a twelve month high of $721.22.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.75 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th were issued a dividend of $1.62 per share. The ex-dividend date was Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 0.9%. Deere & Company’s dividend payout ratio is 36.00%.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.