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Deere & Company (NYSE: DE) reported quarterly earnings of $3.19 per share, surpassing estimates, and announced a dividend of $1.62 per share, yielding 1.30%. Analysts predict earnings of $19.32 per share for the fiscal year, while the stock has a market cap of $135.63 billion and a P/E ratio of 22.15. Despite a recent insider sale, institutional investors hold 68.58% of the company, which has a consensus "Hold" rating among analysts.
US stocks showed mixed results as the Dow slid 0.3% while the Nasdaq rose over 0.3%, driven by a 5% jump in Alphabet shares following advancements in quantum computing. Investors await key consumer inflation data, which could influence interest rate decisions. Meanwhile, small business optimism surged to its highest level since June 2021, reflecting a significant shift in economic sentiment post-election.
Deutsche Bank lowered its price target for Deere & Company from $402 to $389, maintaining a "hold" rating, while Morgan Stanley increased its target from $401 to $450 with an "overweight" rating. The stock has an average rating of "Hold" and a consensus target price of $436.41, with significant institutional investment, including a 5.2% increase in holdings by Zurcher Kantonalbank. Deere's recent earnings report showed $4.55 EPS, surpassing estimates, despite a 32.8% revenue decline year-over-year.
Deere & Company focuses on manufacturing and marketing agricultural and forestry equipment, with net sales primarily from agricultural and grounds care equipment (66.6%) and construction and forestry machinery (24.1%). The company generates 55.7% of its sales in the United States, followed by Latin America (13.4%) and Western Europe (11.9%). Other revenue sources include sales financing (7.7%) and a small portion from miscellaneous products (1.6%).
Deere & Co., the largest farm machinery manufacturer, is expected to report its worst fourth quarter since 2020, reflecting a challenging period for the agricultural sector. Following two years of declining sales from the 2022 peak, uncertainty looms over the impact of President-elect Donald Trump’s policies amidst falling crop prices.
Kamala Harris and Donald Trump present starkly contrasting political positions in their presidential campaigns. Harris emphasizes economic support for the middle class, climate initiatives, and a balanced immigration policy, while Trump advocates for aggressive trade tariffs, energy independence, and a hardline stance on immigration. Their approaches to foreign policy also diverge significantly, with Harris supporting NATO and Ukraine, and Trump prioritizing an "America first" strategy, including skepticism towards international alliances.
Deere & Company
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