Mon Sep 09 14:11:06 UTC 2024: ## Hedge Funds Bet on Deere & Company’s Growth

**Deere & Company (NYSE:DE)**, the global agricultural equipment manufacturer, is attracting attention from hedge funds, with several funds increasing their stakes in the company during recent quarters.

**Caprock Group LLC** boosted its holdings in Deere & Company by 32.9% in the second quarter, purchasing an additional 1,907 shares, bringing their total ownership to 7,700 shares worth $2,889,000. Other funds, including **True Wealth Design LLC** and **Pineridge Advisors LLC**, also significantly increased their positions in Deere & Company.

**Insider Trading:**
Cory J. Reed, an insider at Deere & Company, sold 13,370 shares of the company’s stock on June 24th for a total of $5,048,913.10.

**Strong Earnings:**
Deere & Company reported strong second-quarter earnings, exceeding analysts’ expectations with earnings per share of $6.29 compared to the estimated $5.63. The company’s revenue for the quarter was $11.39 billion, also surpassing analysts’ predictions.

**Dividend Announcement:**
Deere & Company declared a quarterly dividend of $1.47 per share, payable on November 8th to shareholders of record on September 30th. This translates to a $5.88 annualized dividend and a 1.54% yield.

**Analyst Opinions:**
While some analysts, like Morgan Stanley and Hsbc Global Res, have lowered their price targets and ratings, others like Truist Financial and DA Davidson remain bullish on Deere & Company. Overall, the company has an average rating of “Hold” with an average price target of $414.11.

Deere & Company continues to be a strong performer in the industrial products sector, attracting attention from both institutional investors and hedge funds. The company’s solid earnings, attractive dividend, and potential for future growth make it a compelling investment opportunity.

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