Diamond Hill Capital Management Inc. Has $252.14 Million Stock Holdings in Deere & Company $DE

Diamond Hill Capital Management Inc. boosted its position in Deere & Company (NYSE:DE) by 28.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 541,571 shares of the industrial products company’s stock after acquiring an additional 118,752 shares during the quarter. Deere & Company comprises approximately 1.3% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its 29th largest holding. Diamond Hill Capital Management Inc.’s holdings in Deere & Company were worth $252,139,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spectrum Financial Alliance Ltd LLC increased its position in shares of Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after acquiring an additional 30,553 shares in the last quarter. Compagnie Lombard Odier SCmA increased its position in shares of Deere & Company by 66.1% during the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock worth $12,606,000 after acquiring an additional 10,974 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its position in shares of Deere & Company by 263.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company’s stock worth $7,942,000 after acquiring an additional 12,551 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock worth $9,682,000 after purchasing an additional 2,702 shares during the last quarter. Finally, Eubel Brady & Suttman Asset Management Inc. purchased a new position in Deere & Company during the third quarter worth about $434,000. 68.58% of the stock is owned by institutional investors.

Trending Headlines about Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere posted stronger-than-expected Q2 results, with EPS of $6.55 topping estimates and revenue rising 5.4% year over year to $13.37 billion, helped by solid demand in Small Ag & Turf and Construction & Forestry. Deere Shares Fall 4.4% Despite Earnings Beat and Stable Outlook
• Positive Sentiment: The company said it maintained its full-year profit outlook, signaling management confidence despite a tougher farm-cycle backdrop. Deere beats second-quarter profit estimate but maintains full-year forecast
• Neutral Sentiment: Deere’s construction and smaller-equipment businesses continued to offset weakness in core agricultural equipment, keeping overall sales growth positive. Deere Sales Rise as Construction Growth Offsets Agriculture Weakness
• Negative Sentiment: Investors are focusing on weak large-agriculture trends: Production & Precision Ag sales fell sharply and operating profit declined, suggesting the most cyclical part of Deere’s business is still under pressure. Deere shares tumble after weak large-ag outlook overshadows earnings beat
• Negative Sentiment: Management’s unchanged full-year framework and cautious commentary on farm budgets imply a slow recovery for big-ticket equipment demand, which is weighing on the stock. Deere Shares Tumble With Farmers Facing ‘Ongoing Challenges’

Deere & Company Stock Performance

Shares of DE stock opened at $530.84 on Friday. The stock has a market capitalization of $143.39 billion, a P/E ratio of 29.92, a PEG ratio of 1.96 and a beta of 0.96. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The firm’s 50 day moving average is $577.80 and its 200 day moving average is $539.87. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $11.78 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. Deere & Company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.64 EPS. On average, sell-side analysts anticipate that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, March 31st. Deere & Company’s dividend payout ratio is 36.53%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of Deere & Company from $502.00 to $672.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Wells Fargo & Company boosted their price target on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Wolfe Research boosted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Raymond James Financial reiterated an “outperform” rating and issued a $765.00 target price on shares of Deere & Company in a research note on Monday, February 23rd. Finally, Morgan Stanley boosted their target price on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research note on Monday, February 23rd. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $655.45.

Deere & 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.