M&T Bank Corp Has $868.15 Million Position in Deere & Company $DE

M&T Bank Corp grew its holdings in Deere & Company (NYSE:DE) by 1,199.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,864,701 shares of the industrial products company’s stock after buying an additional 1,721,239 shares during the quarter. Deere & Company accounts for about 2.6% of M&T Bank Corp’s portfolio, making the stock its 6th biggest position. M&T Bank Corp’s holdings in Deere & Company were worth $868,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Van ECK Associates Corp increased its holdings in shares of Deere & Company by 278.0% in the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after purchasing an additional 358,687 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Deere & Company by 21.7% in the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after acquiring an additional 323,512 shares during the period. Capital World Investors grew its holdings in shares of Deere & Company by 5.5% in the third quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock worth $2,850,687,000 after acquiring an additional 322,582 shares during the period. Two Sigma Investments LP bought a new stake in shares of Deere & Company in the third quarter worth $143,519,000. Finally, Nordea Investment Management AB grew its holdings in shares of Deere & Company by 71.4% in the third quarter. Nordea Investment Management AB now owns 531,807 shares of the industrial products company’s stock worth $242,834,000 after acquiring an additional 221,456 shares during the period. Institutional investors own 68.58% of the company’s stock.

Key Headlines Impacting Deere & Company

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

• Positive Sentiment: The settlement removes a major litigation overhang and avoids a finding of wrongdoing, limiting headline risk and an uncertain legal expense stream relative to Deere’s large market cap. Deere’s Right to Repair Settlement and Software Access Shift Might Change The Case For Investing In (DE)
• Positive Sentiment: Deere’s underlying results remain strong — recent quarterly revenue growth and an EPS beat support valuation and cash flow prospects, which helps offset settlement-sized one-time costs.
• Neutral Sentiment: The company’s agreement to broaden access to manuals, tools and diagnostics could improve farmer relations and reduce regulatory risk, but the operational and financial implications are ambiguous and will depend on implementation details. John Deere agrees to pay $99 million to farmers over claims they’re monopolizing repairs and overcharging farmers
• Negative Sentiment: Some farmers say repair costs remain a growing burden despite the settlement, suggesting ongoing dissatisfaction, reputational risk and potential for continued political/regulatory scrutiny. That could keep pressure on shares until fixes are operational and effective. Farmers say repair costs remain growing burden despite Deere settlement
• Negative Sentiment: Investors are also focused on potential long-term impacts to Deere’s aftermarket/service margins if broader access reduces captive-service pricing or parts revenue; that structural concern helps explain the share weakness. John Deere Lawsuit Ends In $99M Payout For Farmers

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Wells Fargo & Company lifted their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Royal Bank Of Canada lifted their price objective on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Robert W. Baird cut their price target on Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a report on Thursday, April 2nd. Finally, Bank of America boosted their price target on Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $655.45.

Deere & Company Stock Performance

NYSE:DE opened at $587.37 on Wednesday. The stock has a 50-day simple moving average of $595.17 and a two-hundred day simple moving average of $524.05. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The firm has a market capitalization of $158.65 billion, a PE ratio of 33.11, a P/E/G ratio of 2.08 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the previous year, the company posted $3.19 earnings per share. Deere & Company’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts forecast that Deere & Company will post 18 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s payout ratio is presently 36.53%.

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.