Deere & Company (DE) Stock Price & How to Invest

Deere & Company is the largest manufacturer of agricultural equipment in the world (the John Deere brand) and a major manufacturer of construction, forestry, turf, and utility equipment. The company is also one of the largest captive finance operators serving agriculture and construction. The agricultural equipment business is the largest and most strategically important, with the John Deere brand being one of the most recognized industrial brands globally.

Deere has been investing heavily in technology that transforms agriculture: GPS-guided autonomous tractors, computer vision for selective weed spraying (See & Spray), satellite connectivity for telematics, and integrated data services for farm management. The company positions itself increasingly as an agricultural technology company rather than just an equipment manufacturer. Founded in 1837 by John Deere in Illinois, headquartered in Moline, Illinois. John May has been CEO since 2019. Over the twelve months to August 2026, Deere generated about $47.9 billion of revenue (including its finance arm) and about $4.9 billion of net income, well below the $10.2 billion it earned at the fiscal 2023 peak. In its fiscal third quarter (ended August 2, 2026) revenue was about $11.0 billion and EPS $5.10 against a $4.71 estimate; Production & Precision Ag sales fell about 10% while construction and forestry grew, with backlogs extending into fiscal 2027.

Commodity crop cycle volatility affects farmer purchasing power, and the stock's 2026 rally means a delayed recovery would meet a richer valuation (about 28x forward earnings versus roughly 18x in early 2026). Trade policy (tariffs and retaliatory tariffs in agricultural exports) affects farmer income. Regulatory scrutiny has grown: Deere settled with the FTC and five states in July 2026 over repair access, agreeing to give farmers and independent shops dealer-level diagnostic and repair tools for 10 years, settled a $99 million farmer class action in April, and in October the FTC and USDA opened a joint inquiry into competition in agricultural equipment manufacturing and distribution, with comments due December 7, 2026. Construction cycle. Precision agriculture technology investment must continue to drive premium pricing for the multiple to hold, and the finance arm carries most of Deere's roughly $65 billion of debt, which ties results to credit conditions and interest rates.

23 analysts publish price targets on DE, averaging $694.01 against a $641.86 price as of October 2026, or +8.1%. The published targets run from $500.00 to $813.18, a moderate spread, and the ratings split 16 buy, 9 hold, 0 sell. Over the last six months there have been 9 raises and 2 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full DE forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Deere & Company. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Precision agriculture technology. Deere's investment in precision agriculture (GPS guidance, autonomous operation, See & Spray computer vision, data services) is the central growth story. The most optimistic published target, $813.18, assumes this works close to its best case.

The case against. Commodity crop cycle volatility affects farmer purchasing power, and the stock's 2026 rally means a delayed recovery would meet a richer valuation (about 28x forward earnings versus roughly 18x in early 2026). The most pessimistic target, $500.00, is roughly what DE is worth if this bites instead.

Read the full bull and bear case on DE, including what would have to change to break either one. Walnut is not an investment adviser.

No. Deere & Company (DE) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Deere & Company's investor relations page or your broker.

• Revenue (TTM): ~$47.9 billion (fiscal Q3 2026 ~$11.0B, up ~4.9% YoY)
• Net income (TTM): ~$4.9 billion (fiscal Q3 2026 ~$1.4B)
• EPS: Fiscal Q3 2026 $5.10 vs $4.71 estimate; trailing ~$17.99; FY2026 consensus ~$18.11, FY2027 ~$22.99
• Operating margin (TTM): ~13% (cyclical trough)
• P/E: ~36x trailing, ~28x forward
• Dividend yield: ~1.0% ($6.48 annual rate; payout ~36%)
• Free cash flow (TTM): ~$4.5 billion
• Market cap: ~$173 billion (shares ~$641, Oct 16, 2026)

Deere trades at a premium to traditional industrials on the precision agriculture technology story, the dominant agricultural equipment market position, and demonstrated through-cycle operating discipline. At about 36x trailing and 28x forward earnings, that premium is wider than in early 2026, because the price has moved ahead on expectations of a 2027 recovery while trailing earnings sit near the trough. Fiscal Q4 results are scheduled for November 25, 2026, with consensus EPS of about $4.01 on ~$10.4 billion of revenue.

If you want DE exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses DE naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to DE: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get DE exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (MOO, XLI, PAVE), which spreads the position across many companies. Or build it into a focused thematic portfolio, so DE sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where DE fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Deere (DE) is repositioning from cyclical equipment maker toward an agricultural-technology platform, which is what earns it a premium to traditional industrials despite 30-50% peak-to-trough demand swings. The market has priced in a recovery ahead of the numbers: fiscal 2026 earnings are expected to come in slightly below fiscal 2025, yet the stock is up about 37% this year and trades near 28x forward earnings, as management calls 2026 the trough of the ag cycle and analysts model about 26% EPS growth in fiscal 2027. In a portfolio it behaves as a cyclical industrials, agriculture, and dividend-growth holding with strong through-cycle cash returns, competing with CNH Industrial, AGCO, Kubota, and Caterpillar.

Whether DE is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is DE a buy or a sell?, and where the stock could go from here in the DE stock forecast.

For income investors, whether DE pays a dividend and how the payout looks is covered in does DE pay a dividend? And to weigh DE against a peer, read the full side-by-side comparisons: DE vs NUE and DE vs COST.