84,720 Deere & Company $DE Shares Purchased by Nippon Life Global Investors Americas Inc.

Nippon Life Global Investors Americas Inc. raised its stake in Deere & Company (NYSE:DE) by 2,911.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,630 shares of the industrial products company’s stock after acquiring an additional 84,720 shares during the quarter. Deere & Company makes up approximately 2.4% of Nippon Life Global Investors Americas Inc.’s investment portfolio, making the stock its 10th largest position. Nippon Life Global Investors Americas Inc.’s holdings in Deere & Company were worth $58,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Deere & Company during the second quarter worth $11,763,504,000. Wellington Management Group LLP boosted its holdings in shares of Deere & Company by 84.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after acquiring an additional 1,412,694 shares in the last quarter. Bank of America Corp DE bought a new stake in Deere & Company during the 2nd quarter worth $1,685,093,000. Bank of New York Mellon Corp bought a new stake in Deere & Company during the 2nd quarter worth $1,259,279,000. Finally, Legal & General Group Plc bought a new stake in Deere & Company during the 2nd quarter worth $957,456,000. 68.58% of the stock is owned by institutional investors.

Deere & Company News Roundup

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

Deere & Company Stock Down 0.1%

Shares of DE opened at $675.03 on Monday. The company has a market capitalization of $182.00 billion, a PE ratio of 37.50, a PEG ratio of 2.47 and a beta of 0.89. Deere & Company has a 12 month low of $454.50 and a 12 month high of $721.22. The stock’s 50-day moving average price is $663.79 and its two-hundred day moving average price is $604.16. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last issued 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. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The company had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the prior year, the firm posted $4.75 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. 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 is currently 36.00%.

Wall Street Analyst Weigh In

DE has been the subject of several research reports. Bank of America increased their target price on Deere & Company from $667.00 to $715.00 in a research report on Thursday, September 24th. Nomura upgraded Deere & Company to a “buy” rating in a report on Monday, August 31st. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, September 21st. Citigroup raised their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $585.00 to $625.00 and gave the stock a “neutral” rating in a research report on Thursday, October 8th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $688.10.

Deere & Company 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.