New York, February 11, 2026, 16:56 (EST) — Trading after the close
- Shares of Deere & Company climbed 3.25% to $612.69, marking their fourth consecutive day of gains and hitting a fresh 52-week peak
- Machinery stocks climbed as well; Caterpillar surged following Argus Research’s price target hike from $625 to $820
- Venture One has started construction on a 1.2 million-sq-ft facility for John Deere in Indiana, aiming to wrap up by Q1 2027
Deere & Company (DE) shares climbed 3.2% in Wednesday’s regular session, closing at $612.69. This marked their fourth consecutive gain and pushed the stock to a fresh 52-week high. The price stayed close to that level after the bell. 1
Deere hits new highs just before its first-quarter earnings call on Feb. 19. Investors will be keenly focused on how tractor demand and pricing strategies shake out. 2
Rate expectations are shifting once more, and equipment makers feel the impact quietly. Dealers and farmers rely heavily on financing to purchase large amounts of steel, and those buying patterns can change quickly with rate fluctuations.
U.S. stocks mostly held steady as a stronger-than-expected January jobs report led traders to scale back on bets for Federal Reserve rate cuts. “The economy is not in dire need of rate cuts,” said Julia Hermann, global market strategist at New York Life Investments. Caterpillar surged 4.4% after Argus Research raised its price target from $625 to $820. 3
Separately, real-estate developer Venture One has kicked off construction on a 1.2 million-square-foot industrial facility for John Deere in Hebron, Indiana. The project is slated for completion by the first quarter of 2027. “We are proud to partner with John Deere on this transformative project,” said Venture One principal Ryan Stoller. 4
Deere, headquartered in Moline, Illinois, manufactures farm and construction machinery and is often seen as a gauge for the health of the agriculture sector. Its stock’s recent momentum has kept it squarely in the middle of the industrial rotation trade.
Deere’s latest fiscal 2026 forecast puts net income between $4.0 billion and $4.75 billion, with the company calling 2026 “the bottom of the large ag cycle.” It also warned of continued tariff-related margin squeezes and ongoing issues in its large agriculture segment.
Rallies ahead of earnings often leave little margin for error. If farmer spending falters again or costs remain high, it could shake the rally—especially with rates holding steady at elevated levels.
Deere’s upcoming quarter will also attract attention because of leadership changes. Joshua Jepsen, the company’s longtime CFO, is departing to become CFO at Honeywell’s aerospace division. Ryan Campbell has been appointed interim finance chief in the meantime. 5
Traders won’t just focus on headline figures; they’re keen to hear about dealer inventory and production pace. These factors can swing margins fast when orders change.
Coming up next: Deere’s first-quarter earnings report and conference call set for February 19. Investors will watch closely for insights on large-ag margins, tariffs, and any updates to the 2026 profit forecast. 6
