ASR Vermogensbeheer N.V. Buys New Shares in Deere & Company (NYSE:DE)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Deere & Company, purchasing 28,948 shares valued at approximately $13.6 million.
• Wall Street analysts have raised their price targets for Deere & Company's stock, with Truist Financial increasing it from $546 to $619 and a consensus target price now standing at $515.50.
• Deere & Company reported $6.64 earnings per share for the last quarter, significantly surpassing analysts' estimates of $5.72, despite a 17.9% decline in year-over-year revenue.

ASR Vermogensbeheer N.V. acquired a new position in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,948 shares of the industrial products company's stock, valued at approximately $13,588,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after buying an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Capital World Investors lifted its position in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after acquiring an additional 157,224 shares during the period. Northern Trust Corp boosted its stake in Deere & Company by 12.8% during the fourth quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock worth $1,235,394,000 after acquiring an additional 330,915 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Deere & Company by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company's stock worth $1,096,179,000 after purchasing an additional 184,203 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock traded down $2.74 on Thursday, reaching $506.90. The stock had a trading volume of 958,544 shares, compared to its average volume of 1,135,084. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a 1 year low of $343.38 and a 1 year high of $533.78. The stock has a market cap of $137.28 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.06. The company has a 50 day simple moving average of $512.37 and a 200 day simple moving average of $488.75.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. During the same period last year, the firm posted $8.53 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DE. Morgan Stanley lifted their target price on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a report on Wednesday, April 16th. Truist Financial raised their price objective on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Citigroup dropped their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Bank of America lifted their price target on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $515.50.

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.