Evelyn Partners Investment Management LLP cut its stake in Deere & Company (NYSE:DE – Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,333 shares of the industrial products company’s stock after selling 1,095 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Deere & Company were worth $9,001,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of DE. Vanguard Group Inc. increased its holdings in shares of Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after purchasing an additional 198,332 shares in the last quarter. State Street Corp lifted its stake in shares of Deere & Company by 0.9% in the 4th quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after purchasing an additional 97,049 shares during the period. Capital World Investors boosted its holdings in 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 buying an additional 3,358,264 shares in the last quarter. Geode Capital Management LLC boosted its holdings in 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 buying an additional 17,269 shares in the last quarter. Finally, Norges Bank acquired a new stake in Deere & Company during the fourth quarter valued at $1,715,633,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Wall Street Analysts Forecast Growth
DE has been the subject of a number of recent analyst reports. Citigroup cut their price objective on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. JPMorgan Chase & Co. raised their target price on Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Oppenheimer restated an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Bank of America reduced their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, 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 research report on Friday, February 20th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $639.58.
Deere & Company Stock Performance
NYSE:DE opened at $577.05 on Friday. 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 stock has a market capitalization of $155.77 billion, a PE ratio of 32.69, a P/E/G ratio of 2.14 and a beta of 0.92. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a fifty day moving average of $573.27 and a two-hundred day moving average of $548.89.
Deere & Company (NYSE:DE – Get Free Report) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates 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 for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $6.64 earnings per share. As a group, research analysts forecast that Deere & Company will post 18.13 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is presently 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.
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