BlackRock Fund Advisors has recently announced that it has increased stake in Deere & Co. (NYSE:DE) by 0.38%. After grabbing 11.77 million shares, the institutional investor is now in possession of 44453.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 4.09% having worth around $4.3 billion. Moreover, Geode Capital Management LLC increased its share by 0.14 million to have a control over 5.03 million shares. And Janus Henderson Investors US LLC raised its holdings to 0.18 million shares by acquiring 4.1 million shares or 1.42% of the stake.
Deere & Co. (DE) concluded trading on 12/07/23 at a closing price of $361.22, with 2.73 million shares of worth about $986.19 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -5.13% during that period and on Thursday the price saw a loss of about -1.18%. Currently the company’s common shares owned by public are about 298.77M shares, out of which, 267.81M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 26 analysts are covering the DE stock and their offered price forecasts bring an average price target of $427.58. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $493.00 and could fall to a lowest price of $375.00. The stock’s current price level is 15.74% above of average price target set by the analysts, while a rise to estimated low would result in gain of 3.67% for the stock. However, touching the estimated high of $493.00 would mean a gain of 26.73% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 66 times over the past 12 months. They bought 210,059 shares in 35 of the transactions. In 31 selling transactions, insiders dumped 156,374 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Fidelity 500 Index Fund are the top 3 mutual funds which are holding stakes in Deere & Co. Vanguard Total Stock Market ETF is currently holding 8.26 million shares of worth totaling $3.02 billion. The company recently came buying 41407.0 shares which brought its stake up to 2.87% of the company’s outstanding shares. Vanguard 500 Index Fund bought 31894.0 shares, after which its hold over company’s outstanding shares expand to 2.29%, leaving 6.59 million shares with the mutual fund that have a worth of about $2.41 billion. Fidelity 500 Index Fund, after buying 3.13 million shares, have now control over 1.09% of the stake in the company. It holds 42802.0 shares of worth $1.14 billion.
Deere & Co. (NYSE: DE) started trading at $365.01, below -$0.53 from concluding price of the previous day. However, the stock later moved at a day high price of 365.35, or with a loss of -1.18%. Stock saw a price change of -0.88% in past 5 days and over the past one month there was a price change of -2.17%. Year-to-date (YTD), DE shares are showing a performance of -15.75% which decreased to -17.58% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $345.55 but also hit the highest price of $450.00 during that period. The average intraday trading volume for Deere & Co. shares is 1.55 million. The stock is currently trading -2.64% below its 20-day simple moving average (SMA20), while that difference is down -3.66% for SMA50 and it goes to -8.20% lower than SMA200.
BlackRock Fund Advisors acquired 11.77 million shares of Deere & Co. having value of about $4.3 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 44453.0 shares in the company valued at close to $16057312.66, or have control over 0.38% stake in the company. Deere & Co. (NYSE: DE) currently have 298.77M outstanding shares and institutions hold larger chunk of about 68.78% of that. Holding of mutual funds in the company is about 33.08% while other institutional holders and individual stake holders have control over 36.16% and 11.47% of the stake respectively.
The stock has a current market capitalization of $104.03B and its 3Y-monthly beta is at 1.06. PE ratio of stock for trailing 12 months is 10.42, while it has posted earnings per share of $34.65 in the same period. It has Quick Ratio of 0.46 while making debt-to-equity ratio of 2.91. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DE, volatility over the week remained 1.84% while standing at 1.88% over the month.
Analysts are in expectations that Deere & Co. (DE) stock would likely to be making an EPS of $E-Mini S&P 500 Dec 23 in the current quarter, while forecast for next quarter EPS is $4,588.25 and it is $Future for next year. For the current quarter EPS, analysts have given the company a lowest target $Devon Energy Corporation which is $Nasdaq 100 Dec 23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Delta Air Lines, Inc. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -17.36% while it is estimated to increase by 1.49% in next year. EPS is likely to shrink at an annualized rate of -5.05% for next 5-years, compared to annual growth of 36.77% made by the stock over the past 5-years.
Analysts at 26 brokerage firms have issued recommendations for the Deere & Co. (DE)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.96. Out of those 26 Wall Street analysts, 12 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by TD Cowen on November 24, 2023 offering a Market perform rating for the stock and assigned a target price range of between $438 and $396 to it.
