IFM Investors Pty Ltd boosted its holdings in Deere & Company (NYSE:DE – Get Rating) by 16.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,326 shares of the industrial products company’s stock after acquiring an additional 6,557 shares during the period. IFM Investors Pty Ltd’s holdings in Deere & Company were worth $19,247,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc lifted its holdings in Deere & Company by 120.0% in the 4th quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 48 shares in the last quarter. Crewe Advisors LLC lifted its holdings in shares of Deere & Company by 3,233.3% during the 4th quarter. Crewe Advisors LLC now owns 100 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 97 shares during the period. Amplius Wealth Advisors LLC purchased a new position in shares of Deere & Company during the 4th quarter worth about $34,000. Sierra Capital LLC lifted its holdings in shares of Deere & Company by 183.3% during the 4th quarter. Sierra Capital LLC now owns 102 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 66 shares during the period. Finally, AHL Investment Management Inc. purchased a new position in shares of Deere & Company during the 4th quarter worth about $48,000. 67.35% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on DE. Barclays cut their price objective on shares of Deere & Company from $415.00 to $400.00 and set an “overweight” rating on the stock in a report on Monday, May 23rd. Bank of America downgraded shares of Deere & Company from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $475.00 to $450.00 in a research report on Monday, April 25th. Wells Fargo & Company lowered their price objective on shares of Deere & Company from $455.00 to $410.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Citigroup raised shares of Deere & Company from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $435.00 to $340.00 in a research report on Thursday, July 7th. Finally, Cowen decreased their price target on shares of Deere & Company from $396.00 to $342.00 in a research report on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.56.
Insider Buying and Selling
Deere & Company Price Performance
Shares of NYSE DE opened at $343.18 on Monday. Deere & Company has a fifty-two week low of $283.81 and a fifty-two week high of $446.76. The firm’s 50-day simple moving average is $323.62 and its 200 day simple moving average is $366.01. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.72. The stock has a market cap of $104.89 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.09 and a beta of 1.08.
Deere & Company (NYSE:DE – Get Rating) last issued its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, beating analysts’ consensus estimates of $6.65 by $0.16. The business had revenue of $12.03 billion for the quarter, compared to analysts’ expectations of $13.16 billion. Deere & Company had a net margin of 12.99% and a return on equity of 33.58%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $5.68 earnings per share. Equities analysts expect that Deere & Company will post 23.3 EPS for the current year.
Deere & Company Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, August 8th. Investors of record on Thursday, June 30th will be issued a dividend of $1.13 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.05. This represents a $4.52 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Wednesday, June 29th. Deere & Company’s payout ratio is presently 23.58%.
Deere & Company Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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