Deere & Company (NYSE: DE), known globally by its flagship brand John Deere, has grown from a traditional equipment maker into one of the most influential technology driven industrials in agriculture, construction, and forestry. Shares trade around $480, giving the company a market value of roughly $130 billion.
With 33.3% gross margins, 14.2% EBIT margins, and a recurring revenue engine fueled by parts and precision agriculture systems, John Deere operates more like a durable compounder than a cyclical machinery manufacturer. Understanding who owns the company and how insiders are trading provides deeper insight into how informed investors view John Deere’s long term earnings power.
Who Are John Deere’s Top Shareholders?
The ownership base is dominated by the major index complexes plus several influential active managers. This creates a blend of long horizon stability and targeted conviction.
John Deere’s Largest Shareholders
- The Vanguard Group: 22,266,988 shares (8.24%), $10.7B value. Added 9,825 shares (+0.04%).
- Cascade Investment (Bill Gates’ family office): 19,771,964 shares (7.31%), $9.5B value. No changes reported.
- BlackRock Institutional Trust: 11,068,672 shares (4.09%), $5.33B value. Added 129,308 shares (+1.18%).
- State Street Investment Management: 10,388,900 shares (3.84%), $5.0B value. Added 2,632 shares (+0.03%).
- JP Morgan Asset Management: 7,142,695 shares (2.64%), $3.4B value. Trimmed 137,755 shares (1.89%).
- T. Rowe Price Associates: 7,112,852 shares (2.63%), $3.4B value. Added 592,912 shares (+9.09%).
- Capital World Investors: 6,233,740 shares (2.31%), $3.0B value. Added 322,582 shares (+5.46%).
- Fidelity Management & Research: 6,126,771 shares (2.27%), $2.95B value. Cut 1,428,508 shares (18.91%).
These holdings tell investors that John Deere is firmly anchored by long duration owners. The active managers provide useful signals too. T. Rowe Price and Capital World increased their positions, which may reflect confidence in John Deere’s margin durability and long term pricing power. Fidelity’s trim shows some managers are still cautious about near term equipment demand.
Hedge Fund Highlights
Hedge fund activity last quarter shows several sophisticated firms leaning more positively on John Deere’s current setup.
- Squarepoint Ops, founded by Olivier Courades, boosted its stake by 307%, adding about 382.7k shares for a position worth roughly $232 million. This suggests increasing conviction as John Deere navigates a softer farm cycle.
- Virtu Financial, led by Robert Greifeld, raised its position by 261%, now holding around 15.2k shares valued at about $6.9 million. The jump may point to improving trading dynamics and liquidity conditions around the stock.
- GMO, co founded by Jeremy Grantham, increased its holdings by 394%, adding roughly 10.4k shares for a total stake near $5.9 million. A value oriented shop increasing exposure may indicate John Deere’s valuation screens more attractively within industrials.
For investors, these moves highlight renewed hedge fund interest, particularly from quantitative and value focused firms that often respond early to shifts in momentum or valuation.
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John Deere’s Recent Insider Trades
Insider filings for 2025 show mostly small officer sales, with limited buying activity and several administrative director entries.
Recent Insider Transactions
- John C. May (CEO): Sold 11,106 shares at $500.08 on 11/24/25. Also recorded 11,106 shares at $254.83 the same day, which appears tied to a separate filing. A Form 144 showing 0 shares looks administrative rather than a trade.
- Justin Ryan Rose (Officer): Sold 3,034 shares at $461.63 on 10/30/25.
- Felecia J. Pryor (Officer): Sold 1,256 shares at $488.80 on 8/14/25.
- Jahmy J. Hindman (Officer): Sold 160 shares at $506.26 on 5/31/25.
- Kellye L. Walker (Officer): Sold 555 shares at $480.02 on 4/30/25.
- Directors (Page, Heuberger, Hunn, Talton, Smith, Stockton, Johanns, Feight, Caret, Erwin): Reported 385 shares at $0, likely representing grants or settlements rather than market trades.
For investors, insider activity looks neutral. The sales are modest and could align with compensation timing, while no large insider buying suggests leadership is not signaling strong conviction or concern at current prices.
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What the Ownership & Insider Trade Data Tell Us
John Deere remains one of the most widely held industrials among large global asset managers. The strong passive ownership base provides stability, while selective buying from active funds and hedge funds suggests ongoing belief in the company’s long term economics. Insider trades add little directional insight, but nothing appears concerning.
For investors, the overall picture points to a company viewed as a dependable long term compounder with durable returns, even as near term agricultural demand moves through a softer cycle.
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