Firetrail Investments PTY Ltd. purchased a new stake in Deere & Company (NYSE:DE – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 23,102 shares of the industrial products company’s stock, valued at approximately $14,565,000. Deere & Company makes up about 4.1% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 7th biggest holding.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in 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 buying an additional 198,332 shares during the period. State Street Corp lifted its position in shares of Deere & Company by 0.9% during 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 acquiring an additional 97,049 shares during the period. Capital World Investors lifted its position in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 2.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after purchasing an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Deere & Company by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock valued at $2,609,149,000 after buying an additional 17,269 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently issued reports on DE. Citigroup lifted their price target on Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada restated an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research report on Friday. Robert W. Baird reduced their price target 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. Finally, DA Davidson reaffirmed a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a report on Friday, July 17th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $641.98.
Deere & Company Stock Performance
NYSE DE opened at $608.73 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The business has a fifty day moving average of $603.23 and a 200-day moving average of $588.27. The stock has a market cap of $164.32 billion, a price-to-earnings ratio of 34.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.
Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $6.64 earnings per share. As a group, analysts predict that Deere & Company will post 18.26 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was 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.
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