Deere & Company $DE Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,541,778 shares of the industrial products company’s stock after buying an additional 111,627 shares during the quarter. Geode Capital Management LLC’s holdings in Deere & Company were worth $2,810,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new position in Deere & Company during the 2nd quarter worth $25,000. Activest Wealth Management raised its holdings in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in Deere & Company in the second quarter valued at about $38,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the 2nd quarter valued at approximately $39,000. Finally, Center for Financial Planning Inc. boosted its holdings in Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $477.70 on Wednesday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The stock has a market cap of $129.14 billion, a P/E ratio of 24.97, a PEG ratio of 3.05 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average of $465.79 and a two-hundred day moving average of $490.77.

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

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent analyst reports. Jefferies Financial Group reduced their price target on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a report on Wednesday, October 8th. UBS Group reissued a “buy” rating on shares of Deere & Company in a report on Tuesday, October 28th. Citigroup lowered their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company 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.