Profund Advisors LLC Increases Holdings in Deere & Company $DE

Profund Advisors LLC lifted its holdings in Deere & Company (NYSE:DE) by 19.7% in the second quarter, HoldingsChannel.com reports. The fund owned 3,159 shares of the industrial products company’s stock after buying an additional 521 shares during the quarter. Profund Advisors LLC’s holdings in Deere & Company were worth $1,606,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DE. Nuveen LLC purchased a new stake in Deere & Company during the 1st quarter valued at approximately $571,073,000. TD Asset Management Inc boosted its position in shares of Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after acquiring an additional 410,636 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after acquiring an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after acquiring an additional 256,806 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DE. Robert W. Baird cut their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. DA Davidson cut their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, Daiwa Capital Markets decreased their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Stock Performance

Deere & Company stock opened at $475.08 on Tuesday. 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 firm has a market capitalization of $128.43 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company’s 50-day moving average is $465.76 and its 200 day moving average is $490.64.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the firm posted $6.29 earnings per share. The company’s quarterly revenue was down 9.0% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were issued a $1.62 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 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.