Papamarkou Wellner Asset Management inc. Takes $2.22 Million Position in Deere & Company $DE

Papamarkou Wellner Asset Management inc. purchased a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,940 shares of the industrial products company’s stock, valued at approximately $2,219,000. Deere & Company comprises about 0.5% of Papamarkou Wellner Asset Management inc.’s portfolio, making the stock its 21st biggest holding.

A number of other large investors have also made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Deere & Company in the 2nd quarter valued at about $27,000. Kilter Group LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $29,000. Solstein Capital LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $30,000. Portus Wealth Advisors LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $32,000. Finally, Harborfront Financial Group LLC acquired a new position in shares of Deere & Company in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

More Deere & Company News

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.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Citigroup raised their price objective on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research note on Friday, August 14th. DA Davidson boosted their target price on shares of Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Truist Financial reduced their target price 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. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.48.

Deere & Company Trading Down 1.9%

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 one year low of $433.00 and a one year high of $674.19. The business’s 50-day simple moving average is $610.78 and its 200 day simple moving average is $593.08. The stock has a market cap of $168.08 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.62 and a beta of 0.90.

Deere & Company (NYSE:DE) last released its quarterly 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 business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same quarter in the prior year, the firm earned $4.75 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 18.09 earnings per share for the current fiscal 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 paid 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 payout ratio is presently 36.00%.

About Deere & Company

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.