66,141 Shares in Deere & Company $DE Purchased by Temasek Holdings Private Ltd

Key Points

• Temasek Holdings opened a new position in Deere & Company during the first quarter, buying 66,141 shares valued at about $37.3 million.
• Deere reported strong quarterly results, with earnings of $6.55 per share versus the $5.70 estimate and revenue of $13.37 billion, topping expectations. Revenue also rose 5.4% from a year earlier.
• The company declared a quarterly dividend of $1.62 per share, payable August 10, and analysts remain broadly positive with a Moderate Buy consensus and an average price target of $642.98.

Temasek Holdings Private Ltd purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 66,141 shares of the industrial products company's stock, valued at approximately $37,257,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bellwether Advisors LLC bought a new position in shares of Deere & Company in the first quarter worth about $2,607,000. Oslo Pensjonsforsikring AS acquired a new position in shares of Deere & Company during the first quarter worth approximately $582,000. Mathes Company Inc. grew its stake in shares of Deere & Company by 2.2% during the first quarter. Mathes Company Inc. now owns 10,382 shares of the industrial products company's stock valued at $5,848,000 after purchasing an additional 225 shares during the last quarter. DJE Kapital AG grew its stake in shares of Deere & Company by 4,344.4% during the first quarter. DJE Kapital AG now owns 31,111 shares of the industrial products company's stock valued at $17,347,000 after purchasing an additional 30,411 shares during the last quarter. Finally, Andra AP fonden increased its holdings in shares of Deere & Company by 120.3% in the first quarter. Andra AP fonden now owns 30,803 shares of the industrial products company's stock valued at $17,351,000 after purchasing an additional 16,823 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Up 0.4%

DE opened at $588.06 on Wednesday. The firm's fifty day moving average is $582.48 and its two-hundred day moving average is $573.70. The firm has a market cap of $158.74 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 2.15 and a beta of 0.89. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to analysts' expectations of $11.55 billion. During the same period in the prior year, the firm earned $6.64 earnings per share. Deere & Company's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DE. JPMorgan Chase & Co. boosted their target price on Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. Bank of America lowered their price objective on Deere & Company from $672.00 to $607.50 and set a "neutral" rating for the company in a research report on Friday, May 22nd. Robert W. Baird dropped their price objective on Deere & Company from $580.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 22nd. Jefferies Financial Group raised Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective for the company in a report on Wednesday, April 8th. Finally, Wolfe Research upped their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and an average price target of $642.98.

About Deere & Company

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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