Deere & Company $DE Holdings Lifted by Capital World Investors

Capital World Investors lifted its stake in Deere & Company (NYSE:DE) by 53.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,592,004 shares of the industrial products company’s stock after purchasing an additional 3,358,264 shares during the quarter. Capital World Investors owned 3.54% of Deere & Company worth $4,465,906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Strategic Advocates LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at $25,000. Key Capital Management INC acquired a new position in shares of Deere & Company in the 4th quarter valued at $27,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $30,000. Wealth Watch Advisors INC acquired a new position in shares of Deere & Company in the 3rd quarter valued at $32,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.3%

Deere & Company stock opened at $583.80 on Friday. The company’s fifty day simple moving average is $572.86 and its 200-day simple moving average is $545.60. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market cap of $157.59 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.16 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $11.55 billion. During the same period in the previous year, the company posted $6.64 EPS. Deere & Company’s revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 18.08 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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 dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Robert W. Baird decreased their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Truist Financial decreased their price target on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research report on Tuesday, May 26th. Bank of America decreased their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. increased their price target on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $639.58.

About Deere & Company

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.