Deere & Company $DE Shares Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. increased its stake in Deere & Company by 22.0% during the first quarter, owning approximately 0.06% of the company worth $79.63 million.
• Deere & Company reported a quarterly earnings per share of $4.75, exceeding analyst expectations and a net margin of 11.72%, although revenue decreased by 9.0% year-over-year.
• The company announced a quarterly dividend of $1.62 per share, with a dividend yield of 1.3% and a payout ratio of 33.87%.

1832 Asset Management L.P. grew its position in Deere & Company (NYSE:DE - Free Report) by 22.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 169,667 shares of the industrial products company's stock after buying an additional 30,629 shares during the period. 1832 Asset Management L.P. owned approximately 0.06% of Deere & Company worth $79,633,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC bought a new position in shares of Deere & Company during the fourth quarter worth $34,000. Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the fourth quarter worth $39,000. Finally, Dogwood Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at $42,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.6%

Deere & Company stock traded down $7.8020 during mid-day trading on Monday, hitting $488.1880. The company had a trading volume of 729,473 shares, compared to its average volume of 1,474,958. The stock has a market cap of $132.22 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 3.18 and a beta of 1.06. Deere & Company has a 1 year low of $374.46 and a 1 year high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a fifty day moving average of $507.86 and a 200 day moving average of $490.93.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company's revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $6.29 earnings per share. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DE. Bank of America increased their target price on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Raymond James Financial raised their price target on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Finally, Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $523.87.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.