Deere & Company $DE Shares Bought by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd raised its stake in Deere & Company (NYSE:DE) by 88.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,500 shares of the industrial products company’s stock after buying an additional 4,000 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Deere & Company were worth $3,957,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Cary Street Partners Financial LLC raised its stake in Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC grew its stake in shares of Deere & Company by 55.8% in the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after buying an additional 30,553 shares during the period. Westpac Banking Corp increased its holdings in shares of Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after buying an additional 3,047 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Deere & Company by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after buying an additional 2,702 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. purchased a new stake in shares of Deere & Company during the 3rd quarter valued at approximately $434,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE DE opened at $569.09 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The company has a market cap of $153.62 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.07 and a beta of 0.92. The stock has a 50-day moving average of $573.17 and a two-hundred day moving average of $548.69. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.64 earnings per share. As a group, analysts anticipate that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is currently 36.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DE shares. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Raymond James Financial reduced their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Barclays increased their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Finally, Wolfe Research upped their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.