Quantinno Capital Management LP Raises Stake in Deere & Company $DE

Quantinno Capital Management LP increased its position in Deere & Company (NYSE:DE) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,849 shares of the industrial products company’s stock after buying an additional 12,910 shares during the period. Quantinno Capital Management LP owned about 0.05% of Deere & Company worth $82,720,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Cary Street Partners Financial LLC boosted its stake in shares of Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after buying an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC raised its holdings in Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after acquiring an additional 30,553 shares in the last quarter. Westpac Banking Corp boosted its stake in Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after acquiring an additional 3,047 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in Deere & Company during the 4th quarter worth $13,166,000. Finally, Natixis Advisors LLC increased its position in shares of Deere & Company by 13.4% in the 4th quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock worth $180,919,000 after purchasing an additional 45,782 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 2.5%

Shares of Deere & Company stock opened at $640.78 on Wednesday. The business’s fifty day moving average price is $587.92 and its two-hundred day moving average price is $579.01. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The company has a market capitalization of $172.97 billion, a P/E ratio of 36.30, a PEG ratio of 2.64 and a beta of 0.89. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $6.64 earnings per share. As a group, research analysts forecast that Deere & Company will post 18.28 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Wall Street Analyst Weigh In

DE has been the topic of several research reports. Oppenheimer restated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Wolfe Research boosted their price target on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a report on Tuesday, March 31st. Barclays upped their price target on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. raised their price objective on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a report on Wednesday, April 8th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $642.98.

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.