IFM Investors Pty Ltd Increases Stake in Deere & Company (NYSE:DE)

IFM Investors Pty Ltd boosted its position in Deere & Company (NYSE:DE) by 9.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,260 shares of the industrial products company’s stock after purchasing an additional 4,606 shares during the quarter. IFM Investors Pty Ltd’s holdings in Deere & Company were worth $24,998,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Orion Capital Management LLC bought a new position in Deere & Company in the fourth quarter valued at about $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company during the fourth quarter valued at about $39,000. Dogwood Wealth Management LLC bought a new stake in Deere & Company in the 4th quarter worth approximately $42,000. Wood Tarver Financial Group LLC purchased a new stake in Deere & Company during the fourth quarter valued at $43,000. Finally, Citizens National Bank Trust Department bought a new position in shares of Deere & Company in the 1st quarter valued at about $45,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on DE shares. Citigroup cut their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. DA Davidson reaffirmed a “buy” rating and set a $542.00 target price on shares of Deere & Company in a report on Friday, May 16th. Oppenheimer upped their price objective on shares of Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Raymond James Financial increased their price target on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Stock Down 0.5%

Shares of NYSE:DE opened at $517.50 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The firm has a market capitalization of $140.15 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 3.30 and a beta of 1.08. The firm’s 50-day moving average is $505.29 and its two-hundred day moving average is $474.73. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter last year, the company earned $8.53 earnings per share. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. Analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

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.