Glenview Trust Co Purchases Shares of 39,497 Deere & Company $DE

Glenview Trust Co purchased a new stake in shares of Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 39,497 shares of the industrial products company’s stock, valued at approximately $25,054,000.

Several other hedge funds have also recently added to or reduced their stakes in DE. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Deere & Company in the 2nd quarter worth approximately $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company during the fourth quarter valued at approximately $29,000. Kilter Group LLC bought a new position in Deere & Company during the second quarter valued at approximately $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company during the fourth quarter worth approximately $30,000. Finally, Solstein Capital LLC purchased a new position in shares of Deere & Company during the second quarter worth approximately $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $622.67 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a market cap of $168.08 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.62 and a beta of 0.90. The business has a 50 day moving average price of $610.78 and a 200-day moving average price of $593.08.

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. 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 for the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the previous year, the firm earned $4.75 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 18.09 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared 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 dividend on an annualized basis 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 36.00%.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Better-than-expected earnings and execution: Deere reported fiscal third-quarter earnings per share of $5.10, above the $4.69 analyst consensus, while revenue reached $12.61 billion versus expectations of $10.81 billion. Net income increased 7% year over year to $1.379 billion. Management cited strong factory output, disciplined cost control, favorable price realization, and steady construction and turf demand. Deere’s Q2 Earnings Call: Our Top 5 Analyst Questions
• Positive Sentiment: Construction and AI opportunities support diversification: Coverage highlighted growth in less traditional areas, including construction, where demand is benefiting from technology and infrastructure investment. Deere also entered a $10 million, three-year R&D partnership with Reservoir to accelerate rugged artificial-intelligence applications for high-value crop agriculture. Deere quarterly profits and construction growth Reservoir AI partnership with John Deere
• Positive Sentiment: Analyst support and shareholder return: DA Davidson raised its price target to $760, while RBC reaffirmed an “Outperform” rating. Deere also declared a quarterly dividend of $1.62 per share, payable November 9 to shareholders of record September 30. DA Davidson raises Deere price target RBC reaffirms Deere Outperform rating Deere quarterly dividend announcement
• Neutral Sentiment: Mixed segment picture: The earnings commentary suggests Deere’s diversified businesses, particularly construction and turf, are offsetting softer conditions in its largest agriculture-related division. Investors may therefore remain focused on the durability of farm-equipment demand and the company’s outlook.
• Negative Sentiment: Valuation leaves less room for disappointment: With the shares trading at roughly 35 times earnings, investors may be taking profits or showing caution despite the earnings beat, particularly if agricultural weakness persists or growth in newer businesses takes longer to scale.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. UBS Group lowered their price target 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 cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Tuesday, August 18th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $653.48.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.