Deere & Company $DE Stock Position Raised by Capital World Investors

Capital World Investors raised its position in shares of Deere & Company (NYSE:DE) by 53.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,592,004 shares of the industrial products company’s stock after purchasing an additional 3,358,264 shares during the period. Capital World Investors’ holdings in Deere & Company were worth $4,465,906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Brighton Jones LLC raised its stake in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. raised its stake in shares of Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after purchasing an additional 150 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth about $2,153,000. NewEdge Advisors LLC raised its stake in shares of Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after purchasing an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the subject of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday. Sanford C. Bernstein raised their price objective on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Morgan Stanley raised their price objective on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Finally, Robert W. Baird cut their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Down 1.3%

Shares of DE stock opened at $583.80 on Friday. The stock’s 50 day simple moving average is $572.86 and its 200 day simple moving average is $545.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a market capitalization of $157.59 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.16 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued 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. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the business earned $6.64 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.

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.