Deere & Company $DE Shares Bought by Capital World Investors

Capital World Investors lifted its position in shares of Deere & Company (NYSE:DE) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,233,740 shares of the industrial products company’s stock after purchasing an additional 322,582 shares during the period. Capital World Investors owned about 2.31% of Deere & Company worth $2,850,687,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DE. Howard Hughes Medical Institute acquired a new position in Deere & Company during the second quarter worth approximately $27,000. Activest Wealth Management boosted its holdings in shares of Deere & Company by 69.2% in the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 27 shares during the period. United Community Bank grew its position in shares of Deere & Company by 67.3% during the third quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 37 shares during the last quarter. Lynch Asset Management Inc. acquired a new position in shares of Deere & Company in the 3rd quarter valued at $46,000. Finally, Vision Financial Markets LLC purchased a new stake in Deere & Company in the 3rd quarter valued at $46,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.8%

DE opened at $600.49 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. Deere & Company has a 12 month low of $404.42 and a 12 month high of $674.19. The stock has a market capitalization of $162.20 billion, a P/E ratio of 33.85, a P/E/G ratio of 2.07 and a beta of 0.96. The business has a 50 day simple moving average of $554.55 and a 200-day simple moving average of $500.43.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. Deere & Company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 36.53%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of Deere & Company from $541.00 to $736.00 and gave the company an “outperform” rating in a research note on Friday, February 20th. Oppenheimer reissued an “outperform” rating and set a $715.00 price target on shares of Deere & Company in a report on Friday, February 20th. Bank of America upped their price objective on Deere & Company from $502.00 to $672.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Deere & Company in a research report on Monday, December 1st. Finally, Robert W. Baird boosted their target price on Deere & Company from $467.00 to $675.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $644.70.

Insider Activity

In related news, CEO John C. May II sold 41,472 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares in the company, valued at $59,160,775.30. This trade represents a 26.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cory J. Reed sold 12,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the transaction, the insider owned 20,792 shares in the company, valued at $10,603,920. The trade was a 36.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is owned by company insiders.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.