Empowered Funds LLC acquired a new stake in Deere & Company (NYSE:DE – Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 24,650 shares of the industrial products company’s stock, valued at approximately $15,636,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Deere & Company during the second quarter valued at $11,763,504,000. Norges Bank purchased a new stake in shares of Deere & Company in the 4th quarter valued at $1,715,633,000. Capital World Investors grew its position in 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 worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Deere & Company in the second quarter valued at about $1,685,093,000. Finally, Bank of New York Mellon Corp bought a new position in Deere & Company in the 2nd quarter worth $1,259,279,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Deere & Company Stock Up 1.3%
Shares of NYSE DE opened at $630.66 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The firm has a market cap of $170.24 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90. The company’s 50-day simple moving average is $611.59 and its 200-day simple moving average is $593.34.
Deere & Company Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s payout ratio is presently 36.00%.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, August 24th. Bank of America cut their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Robert W. Baird boosted their target price on Deere & Company from $525.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, August 21st. UBS Group cut their price objective on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Finally, Oppenheimer raised their target price on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $653.48.
Read Our Latest Stock Report on DE
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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