ABN AMRO Bank N.V. Makes New $21.74 Million Investment in Deere & Company $DE

Key Points

• ABN AMRO Bank initiated a $21.74 million position in Deere & Company during the second quarter by purchasing 34,291 shares. Institutional investors collectively own 68.58% of the company.
• Deere reported quarterly EPS of $6.55, surpassing analyst expectations of $5.70, while revenue reached $13.37 billion and increased 5.4% year over year.
• The stock opened at $608.73, and analysts maintain a “Moderate Buy” consensus with an average price target of $641.98. Deere also pays a quarterly dividend of $1.62, equal to a 1.1% annual yield.

ABN AMRO Bank N.V. bought a new position in Deere & Company (NYSE:DE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 34,291 shares of the industrial products company's stock, valued at approximately $21,742,000.

Several other hedge funds have also made changes to their positions in DE. Vanguard Group Inc. lifted its position in Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock worth $10,514,053,000 after buying an additional 198,332 shares in the last quarter. State Street Corp raised its holdings in shares of Deere & Company by 0.9% during the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock worth $4,898,717,000 after acquiring an additional 97,049 shares in the last quarter. Capital World Investors boosted its position in Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock valued at $3,581,574,000 after purchasing an additional 158,584 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Deere & Company by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company's stock worth $2,609,149,000 after purchasing an additional 17,269 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $608.73 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm has a fifty day simple moving average of $603.23 and a 200-day simple moving average of $587.77. The stock has a market capitalization of $164.32 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $6.64 EPS. On average, sell-side analysts expect that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is 36.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday, July 5th. DA Davidson restated a "buy" rating and issued a $685.00 price objective on shares of Deere & Company in a report on Friday, July 17th. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research report on Friday. Citigroup lifted their target price on shares of Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Finally, Raymond James Financial decreased their target price on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a research report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $641.98.

Deere & Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source