Deere & Company $DE Holdings Lifted by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. raised its holdings in Deere & Company (NYSE:DE) by 27.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,210 shares of the industrial products company’s stock after purchasing an additional 4,358 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Deere & Company were worth $13,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Baxter Bros Inc. purchased a new stake in Deere & Company during the 2nd quarter worth about $1,707,000. Global Retirement Partners LLC purchased a new stake in Deere & Company during the second quarter valued at about $3,890,000. Nykredit A S purchased a new stake in Deere & Company during the 2nd quarter valued at about $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 grew its holdings in Deere & Company by 11.8% in the 2nd quarter. NewEdge Advisors LLC now owns 43,459 shares of the industrial products company’s stock worth $27,567,000 after acquiring an additional 4,586 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.3%

NYSE:DE opened at $639.55 on Wednesday. The company’s 50-day moving average is $660.15 and its two-hundred day moving average is $601.68. Deere & Company has a 1-year low of $454.50 and a 1-year high of $721.22.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the previous year, the company posted $4.75 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DE shares. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $640.00 to $800.00 in a research note on Monday, August 31st. Truist Financial reduced their price target on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday, August 24th. UBS Group dropped their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a report on Friday, August 21st. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a research report on Monday, August 24th. Finally, DA Davidson raised their price target on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $688.10.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: Deere’s consensus price target is reported at $688.10, suggesting analysts see additional upside from the stock’s recent trading level. Deere Consensus Price Target Article
• Neutral Sentiment: Deere is attracting elevated investor and market-screening attention, but the Zacks article does not identify a new fundamental development likely to materially change earnings expectations. Zacks Deere Trending Stock Article
• Neutral Sentiment: Deere was described as little changed in premarket trading, indicating no major overnight company announcement was driving the shares. Deere Premarket Trading Article
• Negative Sentiment: A comparison with Caterpillar puts Deere’s dividend growth trajectory under scrutiny. The focus on recent dividend trends may weigh on income-oriented sentiment if investors view Deere’s payout growth as less compelling than competing heavy-equipment alternatives. Caterpillar Versus Deere Dividend Comparison

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.