IFM Investors Pty Ltd Has $19.25 Million Stock Holdings in Deere & Company (NYSE:DE)

Posted by MarketBeat News on Aug 1st, 2022

IFM Investors Pty Ltd lifted its holdings in Deere & Company (NYSE:DE – Get Rating) by 16.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 46,326 shares of the industrial products company’s stock after purchasing an additional 6,557 shares during the quarter. IFM Investors Pty Ltd’s holdings in Deere & Company were worth $19,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DE. Bell Investment Advisors Inc grew its position in shares of 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 during the period. Amplius Wealth Advisors LLC acquired a new position in Deere & Company during the 4th quarter worth approximately $34,000. Crewe Advisors LLC boosted its position in 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 last quarter. Sierra Capital LLC boosted its position in 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 last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Deere & Company during the 4th quarter worth approximately $36,000. 67.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. Morgan Stanley reduced their price target on Deere & Company from $452.00 to $416.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Bank of America downgraded Deere & Company from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $475.00 to $450.00 in a research report on Monday, April 25th. Credit Suisse Group set a $393.00 price target on Deere & Company in a research report on Tuesday, July 19th. The Goldman Sachs Group cut their price objective on Deere & Company from $480.00 to $420.00 and set a “buy” rating for the company in a report on Monday, May 23rd. Finally, Cowen cut their price objective on Deere & Company from $396.00 to $342.00 in a report on Thursday, July 7th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $399.56.

Insiders Place Their Bets

In other Deere & Company news, insider John H. Stone sold 17,145 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $4,321.07, for a total transaction of $74,084,745.15. Following the transaction, the insider now owns 21,087 shares in the company, valued at approximately $91,118,403.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Deere & Company Stock Up 3.5 %

DE opened at $343.18 on Monday. Deere & Company has a 1-year low of $283.81 and a 1-year high of $446.76. The stock’s fifty day simple moving average is $323.62 and its 200 day simple moving average is $366.01. The company has a current ratio of 2.07, a quick ratio of 1.76 and a debt-to-equity ratio of 1.72. The stock has a market cap of $104.89 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.09 and a beta of 1.08.

Deere & Company (NYSE:DE – Get Rating) last posted its quarterly earnings data on Friday, May 20th. The industrial products company reported $6.81 earnings per share for the quarter, topping the consensus estimate of $6.65 by $0.16. The firm had revenue of $12.03 billion for the quarter, compared to analysts’ expectations of $13.16 billion. Deere & Company had a return on equity of 33.58% and a net margin of 12.99%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.68 EPS. As a group, research analysts expect that Deere & Company will post 23.3 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 8th. Shareholders of record on Thursday, June 30th will be given a dividend of $1.13 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.05. The ex-dividend date is Wednesday, June 29th. This represents a $4.52 annualized dividend and a yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is presently 23.58%.

Deere & Company Profile

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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.