Ninety One UK Ltd Invests $51.79 Million in Deere & Company $DE

Ninety One UK Ltd bought a new position in Deere & Company (NYSE:DE) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 101,841 shares of the industrial products company’s stock, valued at approximately $51,785,000.

Several other institutional investors have also recently made changes to their positions in the company. Childress Capital Advisors LLC grew its position in Deere & Company by 27.3% in the 2nd quarter. Childress Capital Advisors LLC now owns 956 shares of the industrial products company’s stock worth $486,000 after purchasing an additional 205 shares in the last quarter. PFG Investments LLC grew its position in Deere & Company by 3.3% in the 2nd quarter. PFG Investments LLC now owns 5,576 shares of the industrial products company’s stock worth $2,835,000 after purchasing an additional 177 shares in the last quarter. LBP AM SA grew its position in Deere & Company by 3.2% in the 2nd quarter. LBP AM SA now owns 9,565 shares of the industrial products company’s stock worth $4,864,000 after purchasing an additional 296 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Deere & Company by 30.3% in the second quarter. Truist Financial Corp now owns 236,269 shares of the industrial products company’s stock valued at $120,140,000 after acquiring an additional 54,967 shares in the last quarter. Finally, Union Bancaire Privee UBP SA grew its holdings in shares of Deere & Company by 18.6% in the second quarter. Union Bancaire Privee UBP SA now owns 10,130 shares of the industrial products company’s stock valued at $4,957,000 after acquiring an additional 1,589 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. DA Davidson reduced their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Truist Financial reduced their price target on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Finally, Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average price target of $518.06.

Deere & Company Stock Down 1.9%

DE stock opened at $456.78 on Wednesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a market capitalization of $123.48 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 2.99 and a beta of 1.00. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The stock has a fifty day moving average of $488.06 and a 200-day moving average of $489.62.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.29 EPS. As a group, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Deere & 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.