Pallas Capital Advisors LLC Takes Position in Deere & Company $DE

Pallas Capital Advisors LLC acquired a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, Holdings Channel reports. The fund acquired 1,759 shares of the industrial products company’s stock, valued at approximately $1,116,000.

Several other institutional investors also recently modified their holdings of the stock. Timmons Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the 4th quarter worth $30,000. Portus Wealth Advisors LLC purchased a new stake in shares of Deere & Company during the 1st quarter valued at $32,000. Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the 3rd quarter valued at $32,000. Finally, SHP Wealth Management bought a new stake in shares of Deere & Company during the 4th quarter worth $33,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $589.18 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $159.04 billion, a PE ratio of 33.38, a P/E/G ratio of 2.57 and a beta of 0.90. The firm has a fifty day simple moving average of $603.98 and a two-hundred day simple moving average of $589.29. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the business posted $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts expect that Deere & Company will post 18.21 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were given a $1.62 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company’s payout ratio is presently 36.71%.

More Deere & Company News

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

• Positive Sentiment: Analysts expect Deere’s upcoming quarter to show modest year-over-year growth, with projected earnings of approximately $4.79 per share and revenue of $10.78 billion. Estimates have generally moved higher, which could support the stock if Deere delivers or raises its outlook. Deere Earnings Loom As Precision Agriculture Narrative Keeps Fair Value In Focus
• Positive Sentiment: The precision-agriculture investment story remains a long-term potential catalyst. Deere’s technology and automation initiatives could improve productivity and support valuation if adoption accelerates. Are Wall Street Analysts Bullish on Deere & Company Stock?
• Neutral Sentiment: Deere is approaching its third-quarter earnings release with investor attention focused on revenue, margins, production levels and management’s outlook. The stock has generated strong longer-term returns, raising the bar for another positive surprise. Insights Into Deere Q3: Wall Street Projections for Key Metrics
• Negative Sentiment: Weak agricultural spending and elevated production costs could pressure Deere’s earnings and margins even if headline revenue and profit estimates improve. This makes the upcoming guidance particularly important for the share price. Deere Set to Report Q3 Earnings
• Negative Sentiment: JPMorgan cut its Deere price target to $570, signaling that the bank sees downside risk relative to recent trading levels. JPMorgan Cuts Deere Price Target
• Negative Sentiment: ARK Invest reportedly exited about $60 million of its Deere position while increasing investments in technology stocks. Although the sale does not change Deere’s fundamentals, it adds selling pressure and reinforces concerns about near-term investor preference for AI-oriented growth companies. ARK Invest Exits Deere Position

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup increased their target price on Deere & Company from $575.00 to $610.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Robert W. Baird cut their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Raymond James Financial reduced their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Oppenheimer reissued an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Finally, Seaport Research Partners set a $570.00 target price on Deere & Company in a research report on Friday. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $641.98.

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.