IFM Investors Pty Ltd increased its stake in Deere & Company (NYSE:DE) by 12.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,672 shares of the industrial products company’s stock after purchasing an additional 2,758 shares during the quarter. IFM Investors Pty Ltd’s holdings in Deere & Company were worth $5,468,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of DE. BlackRock Inc. lifted its holdings in shares of Deere & Company by 6.5% during the second quarter. BlackRock Inc. now owns 19,127,647 shares of the industrial products company’s stock worth $3,005,911,000 after buying an additional 1,175,122 shares during the last quarter. Greenhaven Associates Inc. increased its position in shares of Deere & Company by 106.3% during the second quarter. Greenhaven Associates Inc. now owns 2,086,910 shares of the industrial products company’s stock valued at $327,958,000 after purchasing an additional 1,075,338 shares during the period. Invesco Ltd. increased its position in shares of Deere & Company by 33.7% during the first quarter. Invesco Ltd. now owns 2,221,944 shares of the industrial products company’s stock valued at $306,983,000 after purchasing an additional 559,576 shares during the period. Rothschild & Co Wealth Management UK Ltd increased its position in shares of Deere & Company by 18.8% during the second quarter. Rothschild & Co Wealth Management UK Ltd now owns 2,443,902 shares of the industrial products company’s stock valued at $384,059,000 after purchasing an additional 387,574 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its position in shares of Deere & Company by 741.3% during the second quarter. Douglass Winthrop Advisors LLC now owns 433,564 shares of the industrial products company’s stock valued at $68,135,000 after purchasing an additional 382,029 shares during the period. Hedge funds and other institutional investors own 67.77% of the company’s stock.
Shares of DE stock traded up $1.82 during trading hours on Friday, hitting $240.06. 1,652,689 shares of the company’s stock were exchanged, compared to its average volume of 1,803,626. The stock’s 50-day moving average is $220.30 and its 200-day moving average is $173.20. The company has a debt-to-equity ratio of 2.64, a current ratio of 2.26 and a quick ratio of 2.03. The stock has a market cap of $75.23 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 3.84 and a beta of 0.92. Deere & Company has a 52 week low of $106.14 and a 52 week high of $243.40.
Deere & Company (NYSE:DE) last announced its earnings results on Friday, August 21st. The industrial products company reported $2.57 EPS for the quarter, topping the consensus estimate of $1.26 by $1.31. The company had revenue of $7.86 billion for the quarter, compared to analysts’ expectations of $6.70 billion. Deere & Company had a return on equity of 22.24% and a net margin of 7.61%. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 earnings per share. Equities research analysts forecast that Deere & Company will post 7.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, September 29th. Deere & Company’s payout ratio is presently 30.58%.
In other news, insider Rajesh Kalathur sold 10,760 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $180.00, for a total transaction of $1,936,800.00. Following the transaction, the insider now owns 62,131 shares of the company’s stock, valued at $11,183,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marc A. Howze sold 7,996 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $208.17, for a total value of $1,664,527.32. Following the transaction, the chief accounting officer now directly owns 22,440 shares in the company, valued at approximately $4,671,334.80. The disclosure for this sale can be found here. Insiders have sold 28,668 shares of company stock worth $5,435,047 in the last ninety days. 0.70% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on DE shares. Stifel Nicolaus boosted their price objective on Deere & Company from $175.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Deere & Company from $217.00 to $227.00 and gave the company a “hold” rating in a research report on Tuesday, October 13th. Royal Bank of Canada boosted their price objective on Deere & Company from $180.00 to $228.00 and gave the company an “outperform” rating in a research report on Monday, August 24th. Credit Suisse Group boosted their price objective on Deere & Company from $179.00 to $223.00 and gave the company an “outperform” rating in a research report on Monday, August 24th. Finally, Jefferies Financial Group boosted their price objective on Deere & Company from $165.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $216.08.
Deere & Company Company Profile
Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment and walk-behind mowers, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural management systems technology and solutions; and other outdoor power products.
Further Reading: How Do Mutual Funds Work?
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.