MW Advisory LLC purchased a new stake in shares of Deere & Company (NYSE:DE – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 786 shares of the industrial products company’s stock, valued at approximately $499,000.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Deere & Company during the second quarter valued at approximately $11,763,504,000. State Street Corp raised its holdings in 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 buying an additional 97,049 shares during the period. Capital World Investors raised its holdings 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 valued at $4,465,906,000 after buying an additional 3,358,264 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 2.1% in 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 buying an additional 158,584 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 during the period. Institutional investors own 68.58% of the company’s stock.
Deere & Company Stock Down 0.2%
Shares of Deere & Company stock opened at $692.68 on Friday. The firm’s 50 day moving average price is $619.13 and its 200-day moving average price is $596.29. 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 $705.88. The company has a market cap of $186.76 billion, a P/E ratio of 38.48, a PEG ratio of 2.86 and a beta of 0.90.
Deere & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. Deere & Company’s dividend payout ratio is presently 36.00%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on DE shares. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $640.00 to $800.00 in a research report on Monday. Citigroup raised their target price on shares of Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. DA Davidson upped their price target on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a report on Monday, August 24th. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $570.00 to $585.00 and gave the stock a “neutral” rating in a research report on Friday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $680.73.
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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