Capital International Sarl lifted its holdings in shares of Deere & Company (NYSE:DE – Free Report) by 229.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,298 shares of the industrial products company’s stock after acquiring an additional 52,410 shares during the period. Capital International Sarl’s holdings in Deere & Company were worth $35,056,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Cary Street Partners Financial LLC grew its position in shares of Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC grew 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 during the last quarter. Compagnie Lombard Odier SCmA grew 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 during the last quarter. Public Sector Pension Investment Board grew its position in shares of 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 acquiring an additional 2,702 shares during the last quarter. Finally, Westpac Banking Corp grew its position in shares of Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after acquiring an additional 3,047 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on DE. Truist Financial lowered their target price on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. Sanford C. Bernstein increased their price target on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Wells Fargo & Company increased their price target on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Finally, Argus increased their price target on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $639.58.
Deere & Company Price Performance
Deere & Company stock opened at $583.80 on Friday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The business has a fifty day moving average of $572.86 and a two-hundred day moving average of $545.60. The company has a market cap of $157.59 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.
Deere & Company (NYSE:DE – Get Free Report) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the company earned $6.64 earnings per share. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 18.08 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is 36.71%.
About Deere & Company
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.
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