AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 9,620 shares of the industrial products company's stock, valued at approximately $4,870,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in DE. GAMMA Investing LLC grew its position in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares in the last quarter. Nuveen LLC bought a new position in Deere & Company in the first quarter valued at $571,073,000. Voya Investment Management LLC grew its position in Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company's stock valued at $344,442,000 after purchasing an additional 361,526 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Deere & Company in the fourth quarter valued at $149,057,000. Finally, Price T Rowe Associates Inc. MD grew its position in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Stock Performance
Shares of DE stock opened at $476.24 on Friday. The company has a market capitalization of $128.74 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.03 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The company has a 50-day simple moving average of $498.30 and a 200 day simple moving average of $490.35. Deere & Company has a 52 week low of $383.10 and a 52 week high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping 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 net margin of 11.72% and a return on equity of 21.97%. Deere & Company's revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.29 EPS. On average, sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's payout ratio is currently 33.87%.
Analyst Upgrades and Downgrades
DE has been the subject of a number of analyst reports. DA Davidson decreased their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research report on Monday, August 18th. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research report on Tuesday, September 2nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Truist Financial lowered their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Finally, Raymond James Financial boosted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $520.87.
Read Our Latest Research Report on DE
About Deere & Company
(
Free Report)
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.
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