Exploring Deere & Company (DE) Investor Profile: Who’s Buying and Why?

You're looking at Deere & Company (DE) because the headline numbers feel like a contradiction: a 9% year-over-year drop in Q3 2025 net sales and revenues to $12.02 billion, yet institutional investors still hold the vast majority of the stock. That kind of disconnect-a 26% decline in net income to $1.29 billion against a stock that has shown resilience-tells you the smart money is looking past the near-term cyclical downturn in agriculture. So, who exactly is buying, and why are they holding firm when the company itself narrowed its full-year net income forecast to a range of $4.75 billion to $5.25 billion? It's defintely not retail investors driving the bus; institutional ownership sits at approximately 71.50%, with giants like Vanguard Group Inc and BlackRock, Inc. being among the largest holders. This concentration means the stock's future is deeply tied to the long-term thematic bet on precision agriculture (AgTech) and infrastructure replacement, not just the next harvest cycle. Are these major players simply betting on the multi-decade replacement cycle, or is there a more immediate catalyst in their models? Let's break down the investor profile and see what their buying patterns-like Nomura Asset Management Co. Ltd. boosting their position by 4.4% in Q2-reveal about where Deere & Company is headed.

Who Invests in Deere & Company (DE) and Why?

You're looking at Deere & Company (DE) and trying to figure out if the big money is still buying, and honestly, the answer is a nuanced 'yes, but their reasons are shifting.' The investor profile is dominated by institutional giants who are betting on the long-term transformation from a heavy equipment maker to a precision technology leader, despite the near-term cyclical headwinds we've seen in 2025. It's a classic case of holding a quality company through a downturn.

Key Investor Types: The Institutional Anchor

The ownership structure of Deere & Company tells you who really drives the stock price: institutions. They hold the vast majority of shares, meaning their collective buying and selling moves the market. As of late 2025, institutional investors own a commanding 68.58% to 71.50% of the company's stock.

These aren't just small funds; the top holders are the world's largest asset managers. Blackrock Inc, Vanguard Group Inc, and Jpmorgan Chase Co are consistently among the largest shareholders. For example, Vanguard Group Inc holds over 22.38 million shares, and Blackrock Inc holds over 18.54 million shares as of the most recent filings. Retail investors, the 'you and me' crowd, hold a smaller but still significant slice, around 16.52%. This high institutional concentration signals a belief in the company's stability and strategic direction, but it also means the stock price is highly sensitive to their big moves.

• Institutions: Own 68.58% to 71.50%.
• Retail Investors: Own about 16.52%.
• Top 3 Holders: Vanguard, Blackrock, Jpmorgan Chase Co.

Investment Motivations: Growth, Dividends, and Resilience

Investors are drawn to Deere & Company for a blend of stability and future-facing growth, even as the 2025 fiscal year shows some softness. The core motivation is the company's dominant market position in agriculture and its aggressive push into high-margin precision agriculture technology.

Here's the quick math on the near-term risk: Worldwide net sales and revenues decreased 9% in Q3 2025 year-over-year, with full-year net income forecasted to be between $4.75 billion and $5.25 billion, down from $7.1 billion in fiscal year 2024. But what this estimate hides is the long-term play. The company is investing heavily in solutions like See & Spray and Harvest Settings Automation, which promise to dampen the historical cyclicality by creating a sticky, recurring revenue stream.

Plus, there's the income factor. Deere & Company is an income stalwart, having maintained dividend payments for 55 consecutive years. The quarterly dividend of $1.62 per share, or an annualized $6.48, offers a yield of about 1.4% on the current price. That's a steady paycheck for income-focused investors.

This is a bet on the long game: Mission Statement, Vision, & Core Values of Deere & Company (DE).

Investment Strategies: Playing the Cycle and the Future

You see three main investment strategies at play with Deere & Company stock right now. The first is the most common: Long-Term Holding. These investors, mostly large institutions, are looking past the current cyclical downturn, which has seen sales decline in 2025, betting on the company's goal to achieve 10% recurring revenue by 2030. They see the average annual return of about 20.61% over the last decade as proof of concept.

The second is Value Investing, but it's a tricky one. The stock's P/E ratio of around 24.88 suggests it's trading at a premium compared to its historical average and industry peers, which is a red flag for strict value investors. However, a few analysts see the current price of around $475 as a 'reasonable entry point' for a quality company with a strong innovation pipeline. The third strategy is Cyclical/Tactical Trading. With the stock trading between a 52-week low of $396.14 and a high of $533.78, and analysts having mixed ratings (Buy, Outperform, Neutral) and a consensus price target of around $496.26, there's room for short-term players to trade the volatility and the eventual cyclical bottom.

The bottom line is that the stock is defintely a long-term hold, but any short-term gains will come from navigating the current cyclical weakness.

Institutional Ownership and Major Shareholders of Deere & Company (DE)

You want to know who is really calling the shots at Deere & Company, and the answer, as with most large-cap companies, points squarely to the institutional money. Institutional investors-think massive asset managers like Vanguard Group Inc. and BlackRock, Inc.-own the lion's share of the company. This isn't just a passive investment; it means their collective decisions drive the stock price and hold significant sway over corporate strategy.

As of the most recent filings (September 30, 2025), institutional ownership in Deere & Company stands at approximately 73.22% of total shares outstanding, representing a total value of holdings over $93.793 billion. That's a huge concentration of power. For context, the top 22 shareholders alone control about 51% of the company, which defintely gives them a strong voice in the boardroom.

The Top Institutional Investors and Their Stakes

When you break down that $93.793 billion in holdings, you see a clear hierarchy. The top three are the usual suspects in the index fund world, but their sheer size in Deere & Company is what matters. They are primarily passive investors, meaning they buy and hold to match a benchmark index like the S&P 500, but their massive capital still dictates market liquidity.

Here's the quick math on the top holders based on September 30, 2025, filings:

Recent Shifts: Who's Buying and Who's Selling

The institutional landscape isn't static; it's a constant flow of capital reacting to the near-term outlook for agriculture and construction. Looking at the third quarter of fiscal year 2025, the overall picture was one of slight accumulation, but with some notable exceptions. The total number of institutional buyers (1,009) was slightly less than the sellers (1,107), but the net effect was still a massive inflow of $16.10 billion in institutional purchases against $9.56 billion in sales over the last 12 months.

In the most recent quarter, you saw Vanguard Group Inc. and BlackRock, Inc. add to their positions, a typical move for index trackers as the company's market capitalization of around $127.8 billion keeps it a core holding. But the most significant move was from Fmr Llc (Fidelity), which slashed its position by a hefty 21.068%, offloading over 1.789 million shares. That's a strong signal of a major active manager taking profits or rotating out of the sector, likely due to the challenging operating environment Deere & Company cited in Q3 2025.

• Vanguard and BlackRock: Increased their holdings, reflecting the stock's index weight.
• Price T Rowe Associates Inc. /Md/: Showed a strong conviction increase of 8.625%.
• Fmr Llc: Decreased its stake by over 21%, a clear bearish move from an active fund.

The Impact of Institutional Ownership on Stock and Strategy

When institutions own this much of a company, they become the primary driver of the stock's volatility and its long-term strategy. The stock price of Deere & Company is highly vulnerable to their trading decisions. If a few major institutions decide to sell at once-a crowded trade unwind-the stock could drop fast. This is a key risk to monitor.

On the strategic side, this high ownership means management is deeply focused on delivering shareholder value through metrics these investors care about, like earnings per share (EPS). For fiscal year 2025, analysts expect Deere & Company to report a profit of $18.57 per share. Hitting or beating that number is a direct mandate from these large holders, especially in a year where net income per share declined 24.5% in Q3 2025 compared to the prior year. Their focus is on the 'Smart Industrial Operating Model' and the long-term vision laid out in the Mission Statement, Vision, & Core Values of Deere & Company (DE).

The collective power of these institutions means they can influence everything from capital allocation-like share buybacks and dividends-to executive compensation and even major mergers or acquisitions. They are the ultimate arbiter of management's success. Your next step should be to track the next round of 13F filings to see if the net accumulation trend continues into Q4 2025. Finance: track Q4 13F filings for major changes by the January 2026 deadline.

Key Investors and Their Impact on Deere & Company (DE)

If you're looking at Deere & Company (DE), you need to know who's really holding the reins. The short answer is: institutional money dominates, and their collective focus is shifting from simple financials to complex governance issues like human capital. Institutional investors own between 68.58% and 73.22% of the stock, so their moves are the market's moves.

The biggest players are the usual suspects-the passive giants whose sheer size dictates the flow of capital. This high institutional ownership means the stock price is defintely vulnerable to their trading decisions, but it also signals a strong analyst consensus that the business model is sound. One quick data point: as of November 2025, the total value of institutional holdings was roughly $93.793 billion.

The Institutional Heavyweights and Individual Influence

The top shareholders in Deere & Company are the world's largest asset managers, whose investment mandates often involve tracking major indices. They are primarily passive investors (meaning they buy the market, not just the stock), but their massive stakes give them enormous voting power on corporate matters.

• Vanguard Group Inc. holds the largest institutional stake, with 22,384,853 shares as of September 30, 2025.
• BlackRock, Inc. is the second largest, holding 18,540,596 shares.
• State Street Corp and JPMorgan Chase & Co. also hold significant positions, each with over 10 million shares.

What's less known is the influence of a single, highly notable individual investor: Cascade Investment LLC, which is Bill Gates' private investment vehicle. Cascade is actually the largest single shareholder, owning around 10.82% of the company, which translates to approximately 29.26 million shares, valued at about $13.93 billion. That kind of concentrated ownership, while passive in nature, gives one entity a powerful voice, especially on long-term strategy and sustainability initiatives.

Recent Investor Moves: Q3 2025 Trading Activity

Looking at the most recent 13F filings from the third quarter of 2025 (ending September 30, 2025), we see a mixed bag of conviction among the major funds. This tells you that while the long-term thesis is solid, there's a debate happening on near-term growth prospects, especially with the agricultural cycle cooling off a bit.

Here's the quick math on the most notable changes:

Fidelity's massive cut of over 1.7 million shares is a headline-grabber, suggesting a significant portfolio rebalancing or a bearish view on the sector's immediate future. But, to be fair, the buying activity from Price T Rowe Associates Inc and Capital World Investors, who added over 920,000 shares combined, shows that other sophisticated managers are stepping in to accumulate shares. That's a classic divergence in opinion, and it keeps the stock interesting.

The Rise of Shareholder Activism on Governance

The most concrete example of investor influence outside of simple buying and selling came to a head at the February 26, 2025, Annual General Meeting (AGM). This wasn't about a merger or a dividend; it was about environmental, social, and governance (ESG) factors, specifically Diversity, Equity, and Inclusion (DEI).

Two contrasting shareholder proposals were put forward: one from the shareholder advocacy group As You Sow, asking for more transparency on DEI outcomes, and another from a conservative think tank, the National Legal and Policy Center, seeking to curb DEI efforts.

The outcome was a clear signal from the investor base: they overwhelmingly rejected the anti-DEI proposal, with over 98.7% of the votes cast against it. This demonstrates that the large, institutional owners-the Vanguards and BlackRocks-are prioritizing human capital metrics and governance disclosure as material to long-term value, even if the company's internal stance has been somewhat ambiguous. Investors are demanding clarity and accountability on how the company is managing its workforce, which is critical for a firm that relies on innovation and a skilled labor pool. It's a clear mandate for management to align with modern governance expectations. This focus on long-term value creation is deeply tied to the company's core principles, which you can read more about here: Mission Statement, Vision, & Core Values of Deere & Company (DE).

Next step: you should track the Q4 2025 filings from these major holders to see if the divergence in opinion on the stock has closed, especially after the recent price movement to $475.98 per share.

Market Impact and Investor Sentiment

You're looking at Deere & Company (DE) and seeing a stock that's up, but with a lot of cross-currents underneath. The overall investor sentiment is a mildly positive Moderate Buy, which is a consensus from 25 Wall Street analysts. This is not a screaming 'Strong Buy' across the board, but it defintely shows confidence in the long-term story.

Institutional investors-the big players like Vanguard Group Inc and BlackRock, Inc.-own the lion's share, controlling approximately 68.6% of the shares outstanding. That high institutional ownership means the board is keenly aware of their preferences, but it also makes the stock vulnerable to their collective trading decisions. It's a double-edged sword: they provide stability, but a mass exodus would hurt.

Here's the quick math on the current analyst view: the average 12-month price target is around $520.05, which suggests a modest upside from the November 2025 stock price of roughly $475.98 per share. This stock has already delivered an impressive 18.9% return over the past year, so the near-term upside is seen as more measured.

Recent Market Reactions to Ownership Shifts

The stock market's response to Deere & Company's news in 2025 has been a textbook example of a market looking past the headline number to the underlying trend. For instance, in mid-August 2025, the company reported better-than-expected Q3 earnings, but the stock still plunged 6.8% on the news. Why? Because investors focused on the guidance and the segmental weakness.

The Production & Precision Agriculture division saw a notable 16.2% drop in net sales, and the company narrowed its fiscal 2025 net income guidance. This kind of reaction tells you that short-term traders are largely moving away from the agricultural machinery space, while long-term investors are the ones sticking around, anticipating the eventual cycle inflection. You can see this tension in the institutional flows:

• Vanguard Group Inc held over 22.3 million shares as of September 30, 2025, showing a passive, massive commitment.
• BlackRock, Inc. held over 18.5 million shares, increasing their position by over 2.1% in the third quarter of 2025.
• Fmr Llc, however, cut their position by over 21.0% in the same quarter, selling nearly 1.8 million shares.

The big money is split, so the stock price is just grinding. For a deeper dive into the company's fundamentals, look at Breaking Down Deere & Company (DE) Financial Health: Key Insights for Investors.

Analyst Perspectives on Key Investor Impact and 2025 Outlook

Analysts are factoring in the major institutional commitment-especially from passive giants like State Street Corp and JPMorgan Chase & Co-as a baseline of stability. The real impact comes from the narrative those institutions are buying into: the long-term story of precision agriculture and technology leadership. Analysts like UBS and RBC Capital have recently upgraded or initiated coverage with 'Buy' or 'Outperform' ratings, specifically highlighting Deere & Company's leadership in technology-enabled agriculture.

What this estimate hides is the pain of the current cycle. The consensus forecast for the 2025 fiscal year is stark, but it's what the market is processing now. The analysts expect a significant revenue decline of about 23.71% to $39.31 billion, down from $51.53 billion in the prior year. Earnings per share (EPS) is also expected to drop by over 25.86% to around $18.99. Still, the company is expected to remain highly profitable.

The key financial data for the 2025 fiscal year, which ended in October, shows the challenge:

This is a cyclical stock, and the big investors are betting on the company's ability to navigate the downturn and emerge stronger, especially with its current ratio of 2.23 indicating strong liquid assets. The consensus is that fiscal 2026 will be the trough year before a recovery begins in fiscal 2027. So, the institutional buyers are looking two years out.