EFG International AG Purchases New Shares in Deere & Company $DE

EFG International AG acquired a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,546 shares of the industrial products company’s stock, valued at approximately $981,000.

Several other institutional investors have also recently made changes to their positions in the company. Ancora Advisors LLC bought a new stake in Deere & Company in the 2nd quarter worth about $1,149,000. Primecap Management Co. CA purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $46,097,000. Canada Pension Plan Investment Board purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $140,817,000. Castlekeep Investment Advisors LLC bought a new position in shares of Deere & Company in the second quarter valued at approximately $1,120,000. Finally, Osterweis Capital Management Inc. bought a new position in shares of Deere & Company in the second quarter valued at approximately $27,319,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.4%

Shares of NYSE DE opened at $633.36 on Thursday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The business has a 50-day simple moving average of $610.13 and a two-hundred day simple moving average of $592.80. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The company has a market cap of $170.97 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The firm had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same period in the prior year, the business posted $4.75 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Research analysts anticipate that Deere & Company will post 18.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DE. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Seaport Research Partners set a $570.00 price objective on Deere & Company in a research note on Friday, August 14th. Truist Financial decreased their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research report on Monday. Citigroup lifted their target price on Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Finally, Bank of America cut their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $653.48.

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.