Caisse de depot et placement du Quebec Acquires New Shares in Deere & Company $DE

Caisse de depot et placement du Quebec acquired a new position in Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 232,497 shares of the industrial products company’s stock, valued at approximately $147,480,000. Caisse de depot et placement du Quebec owned 0.09% of Deere & Company as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of DE. Brighton Jones LLC increased its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares during the last quarter. Jump Financial LLC acquired a new position in Deere & Company in the second quarter valued at about $2,153,000. NewEdge Advisors LLC boosted its stake in Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after buying an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC increased its position in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of a number of research analyst reports. DA Davidson boosted their price target on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research note on Monday. UBS Group lowered their price objective on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Truist Financial dropped their target price on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a report on Monday. Citigroup boosted their target price on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. Finally, Robert W. Baird raised their price target on Deere & Company from $525.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $653.48.

Deere & Company Stock Up 0.4%

Shares of DE opened at $633.36 on Thursday. The stock has a market capitalization of $170.97 billion, a PE ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The company’s 50-day simple moving average is $610.13 and its 200-day simple moving average is $592.80.

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

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.