iA Global Asset Management Inc. Invests $9.78 Million in Deere & Company (NYSE:DE)

iA Global Asset Management Inc. acquired a new stake in shares of Deere & Company (NYSE:DE) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 20,840 shares of the industrial products company’s stock, valued at approximately $9,781,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DE. Brighton Jones LLC grew 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 valued at $1,927,000 after acquiring an additional 1,278 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $28,454,000. World Investment Advisors raised its holdings in Deere & Company by 156.4% during the fourth quarter. World Investment Advisors now owns 1,372 shares of the industrial products company’s stock valued at $581,000 after acquiring an additional 837 shares during the period. Prudential PLC raised its holdings in Deere & Company by 15.5% during the fourth quarter. Prudential PLC now owns 5,083 shares of the industrial products company’s stock valued at $2,154,000 after acquiring an additional 684 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Deere & Company by 6.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 259,400 shares of the industrial products company’s stock valued at $109,908,000 after acquiring an additional 15,099 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. Raymond James Financial lifted their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Truist Financial increased their price target on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Barclays boosted their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Finally, Bank of America boosted their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $515.50.

Deere & Company Price Performance

Shares of DE opened at $511.13 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The stock has a market cap of $138.43 billion, a PE ratio of 24.73, a P/E/G ratio of 3.18 and a beta of 1.06. The firm has a 50-day simple moving average of $512.28 and a two-hundred day simple moving average of $488.12. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company’s dividend payout ratio is 31.35%.

Deere & Company Company Profile

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.