IFM Investors Pty Ltd Buys 2,019 Shares of Deere & Company $DE

IFM Investors Pty Ltd increased its stake in Deere & Company (NYSE:DE) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,743 shares of the industrial products company’s stock after purchasing an additional 2,019 shares during the quarter. IFM Investors Pty Ltd’s holdings in Deere & Company were worth $29,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Investment Center Inc. purchased a new stake in Deere & Company during the 1st quarter worth about $203,000. Global Trust Asset Management LLC grew its holdings in Deere & Company by 12.8% during the 1st quarter. Global Trust Asset Management LLC now owns 466 shares of the industrial products company’s stock valued at $262,000 after buying an additional 53 shares in the last quarter. Ellenbecker Investment Group grew its holdings in Deere & Company by 7.2% during the 1st quarter. Ellenbecker Investment Group now owns 493 shares of the industrial products company’s stock valued at $278,000 after buying an additional 33 shares in the last quarter. MQS Management LLC bought a new stake in shares of Deere & Company during the first quarter valued at about $424,000. Finally, Premier Path Wealth Partners LLC increased its position in shares of Deere & Company by 13.4% during the first quarter. Premier Path Wealth Partners LLC now owns 3,461 shares of the industrial products company’s stock valued at $1,949,000 after buying an additional 408 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.1%

Shares of NYSE DE opened at $633.73 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The business has a 50-day moving average of $576.24 and a 200-day moving average of $560.24. The firm has a market capitalization of $171.07 billion, a price-to-earnings ratio of 35.91, a PEG ratio of 2.32 and a beta of 0.92. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the firm posted $6.64 earnings per share. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio is presently 36.71%.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. Robert W. Baird cut their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Raymond James Financial decreased their target price on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company 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.