BlackRock Inc. Makes New Investment in Deere & Company $DE

BlackRock Inc. purchased a new stake in Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,544,770 shares of the industrial products company's stock, valued at approximately $11,763,504,000. BlackRock Inc. owned approximately 6.87% of Deere & Company at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Timmons Wealth Management LLC bought a new position in Deere & Company in the fourth quarter worth approximately $29,000. McIlrath & Eck LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $30,000. Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company during the first quarter valued at approximately $32,000. Wealth Watch Advisors INC acquired a new position in shares of Deere & Company during the third quarter worth approximately $32,000. Finally, SHP Wealth Management acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Deere & Company from $575.00 to $610.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Sunday, July 5th. Bank of America dropped their price objective on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research note on Friday, May 22nd. Truist Financial boosted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research report on Thursday, July 2nd. Finally, Oppenheimer restated an "outperform" rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $641.98.

Deere & Company Price Performance

Deere & Company stock opened at $600.08 on Tuesday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company's 50 day moving average price is $603.76 and its two-hundred day moving average price is $588.84. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock has a market cap of $161.99 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.57 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts' consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.64 EPS. On average, equities analysts predict 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. Stockholders of record on Tuesday, June 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is currently 36.71%.

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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