Deere & Company $DE Shares Acquired by State Street Corp

State Street Corp lifted its position in shares of Deere & Company (NYSE:DE) by 0.9% during the fourth quarter, HoldingsChannel reports. The fund owned 10,485,949 shares of the industrial products company’s stock after acquiring an additional 97,049 shares during the quarter. State Street Corp’s holdings in Deere & Company were worth $4,898,717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Deere & Company by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after acquiring an additional 198,332 shares during the period. Capital World Investors increased its stake in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the period. Geode Capital Management LLC increased its stake in shares of Deere & Company by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after acquiring an additional 17,269 shares during the period. Norges Bank acquired a new position in shares of Deere & Company during the fourth quarter worth about $1,715,633,000. Finally, Fisher Asset Management LLC increased its stake in shares of Deere & Company by 4.8% during the fourth quarter. Fisher Asset Management LLC now owns 2,853,156 shares of the industrial products company’s stock worth $1,328,344,000 after acquiring an additional 131,138 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. BMO Capital Markets boosted their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective on the stock in a report on Wednesday, April 8th. Finally, Robert W. Baird decreased their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $639.58.

Deere & Company Stock Up 1.5%

DE stock opened at $577.05 on Friday. The company has a market cap of $155.77 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.10 and a beta of 0.92. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company’s 50-day moving average price is $573.27 and its 200 day moving average price is $548.89. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.64 earnings per share. On average, research analysts expect that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is 36.71%.

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.