Ninety One UK Ltd Invests $51.79 Million in Deere & Company $DE

Ninety One UK Ltd purchased a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 101,841 shares of the industrial products company’s stock, valued at approximately $51,785,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of Deere & Company by 5.8% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 672 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 37 shares in the last quarter. Fiduciary Alliance LLC raised its position in shares of Deere & Company by 4.1% in the 1st quarter. Fiduciary Alliance LLC now owns 1,506 shares of the industrial products company’s stock worth $707,000 after acquiring an additional 59 shares in the last quarter. Fragasso Financial Advisors Inc increased its holdings in Deere & Company by 4.8% in the first quarter. Fragasso Financial Advisors Inc now owns 1,080 shares of the industrial products company’s stock worth $507,000 after purchasing an additional 49 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in Deere & Company by 2.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,475 shares of the industrial products company’s stock worth $692,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $456.78 on Wednesday. The firm has a market capitalization of $123.48 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00. The firm has a fifty day simple moving average of $488.06 and a two-hundred day simple moving average of $489.62. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.29 EPS. Analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research analyst reports. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Daiwa Capital Markets lowered their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Finally, Robert W. Baird decreased their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus target price of $518.06.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.