Rakuten Investment Management Inc. boosted its position in Deere & Company (NYSE:DE – Free Report) by 141.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 33,360 shares of the industrial products company’s stock after purchasing an additional 19,546 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Deere & Company were worth $15,687,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC raised its stake in Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC raised its stake in Deere & Company by 55.8% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after purchasing an additional 30,553 shares during the period. Westpac Banking Corp raised its stake in Deere & Company by 78.6% during the 4th quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after purchasing an additional 3,047 shares during the period. Public Sector Pension Investment Board raised its stake in Deere & Company by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock valued at $9,682,000 after purchasing an additional 2,702 shares during the period. Finally, Legal & General Group Plc raised its stake in Deere & Company by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 1,651,982 shares of the industrial products company’s stock valued at $755,385,000 after purchasing an additional 115,975 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
DE has been the topic of a number of research reports. BMO Capital Markets upped their price target on shares of Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research note on Friday, February 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research note on Monday, June 1st. Wolfe Research upped their price target on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. UBS Group upped their price target on shares of Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $639.58.
Deere & Company Stock Down 0.3%
DE stock opened at $575.87 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a 50-day moving average of $573.28 and a two-hundred day moving average of $549.86. The stock has a market capitalization of $155.45 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the company earned $6.64 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 18.13 EPS for the current year.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date 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 currently 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.
Featured Articles
- Five stocks we like better than Deere & Company
- Can D-Wave Hold Its Own Against 2 Fast-Growing Rivals?
- 3 AI Stocks With Moats That Could Outlast Summer Volatility
- These 5 Companies Just Made a Massive Bet on Themselves
- 5 Stocks Built to Thrive in a Higher-for-Longer Economy
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE – Free Report).
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.
