Banco Santander S.A. Acquires 8,105 Shares of Deere & Company $DE

Banco Santander S.A. grew its holdings in Deere & Company (NYSE:DE) by 45.8% in the 2nd quarter, Holdings Channel reports. The fund owned 25,810 shares of the industrial products company’s stock after purchasing an additional 8,105 shares during the quarter. Banco Santander S.A.’s holdings in Deere & Company were worth $13,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DE. Vanguard Group Inc. lifted its position in Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock worth $10,355,546,000 after purchasing an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Deere & Company by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after purchasing an additional 35,075 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after purchasing an additional 25,725 shares during the period. Finally, Invesco Ltd. lifted its position in Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares during the period. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

DE has been the subject of several research reports. Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. Jefferies Financial Group reduced their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Wolfe Research reduced their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. DA Davidson reduced their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Performance

Deere & Company stock opened at $473.01 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a fifty day moving average price of $469.88 and a two-hundred day moving average price of $489.27. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The firm has a market capitalization of $127.87 billion, a P/E ratio of 24.73, a P/E/G ratio of 3.04 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is currently 33.87%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.