IFM Investors Pty Ltd Grows Stock Holdings in Deere & Company $DE

IFM Investors Pty Ltd grew its position in shares of Deere & Company (NYSE:DE) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,743 shares of the industrial products company’s stock after purchasing an additional 2,019 shares during the period. IFM Investors Pty Ltd’s holdings in Deere & Company were worth $29,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Anchyra Partners LLC raised its holdings in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its stake in Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after buying an additional 17 shares in the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,480,000 after buying an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after acquiring an additional 19 shares during the last quarter. Finally, Root Financial Partners LLC grew its position in Deere & Company by 2.2% during the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 19 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock opened at $633.73 on Wednesday. The stock has a market capitalization of $171.07 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.32 and a beta of 0.92. The firm’s 50-day moving average price is $576.24 and its two-hundred day moving average price is $560.24. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.64 earnings per share. As a group, equities analysts predict that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America lowered their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Wolfe Research lifted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Weiss Ratings raised shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Finally, Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $639.58.

Deere & 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.