EWG Elevate Inc. Purchases New Holdings in Deere & Company (NYSE:DE)

EWG Elevate Inc. purchased a new stake in shares of Deere & Company (NYSE:DE – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 116 shares of the industrial products company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new stake in Deere & Company in the third quarter worth $337,686,000. FMR LLC increased its position in Deere & Company by 4.9% in the second quarter. FMR LLC now owns 5,108,362 shares of the industrial products company’s stock worth $1,529,801,000 after buying an additional 240,210 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in Deere & Company by 16.2% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,686,779 shares of the industrial products company’s stock worth $563,198,000 after buying an additional 234,811 shares during the last quarter. Mirova US LLC purchased a new stake in Deere & Company in the third quarter worth $71,797,000. Finally, Vanguard Group Inc. increased its position in Deere & Company by 1.0% in the third quarter. Vanguard Group Inc. now owns 22,093,821 shares of the industrial products company’s stock worth $7,376,906,000 after buying an additional 208,053 shares during the last quarter. 75.72% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE opened at $385.50 on Friday. The stock has a market capitalization of $114.23 billion, a P/E ratio of 14.30, a PEG ratio of 1.04 and a beta of 1.05. The company has a current ratio of 2.07, a quick ratio of 1.76 and a debt-to-equity ratio of 1.64. Deere & Company has a 12-month low of $283.81 and a 12-month high of $448.40. The stock has a 50-day moving average price of $417.58 and a 200-day moving average price of $403.13.

Deere & Company (NYSE:DE – Get Rating) last issued its earnings results on Friday, February 17th. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.53 by $1.02. The business had revenue of $11.40 billion during the quarter, compared to analyst estimates of $11.14 billion. Deere & Company had a return on equity of 41.17% and a net margin of 14.71%. Deere & Company’s revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 earnings per share. Equities analysts predict that Deere & Company will post 30.58 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Investors of record on Friday, March 31st will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, March 30th. This is a boost from Deere & Company’s previous quarterly dividend of $1.20. Deere & Company’s dividend payout ratio (DPR) is presently 17.80%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup raised their target price on Deere & Company from $425.00 to $505.00 and gave the stock a “buy” rating in a research report on Thursday, December 1st. Robert W. Baird raised their target price on Deere & Company from $470.00 to $512.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Wells Fargo & Company raised their target price on Deere & Company from $485.00 to $510.00 and gave the stock an “overweight” rating in a research report on Monday, February 20th. DA Davidson reiterated a “buy” rating and issued a $520.00 price target on shares of Deere & Company in a research report on Tuesday, February 21st. Finally, Stifel Nicolaus lifted their price target on Deere & Company from $475.00 to $477.00 and gave the company a “buy” rating in a research report on Monday, December 19th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $460.81.

Deere & Company Company Profile

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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.