Brandywine Global Investment Management LLC Acquires 38,031 Shares of Deere & Company $DE

Key Points

• Brandywine Global Investment Management LLC increased its stake in Deere & Company by 10.2%, acquiring an additional 38,031 shares, bringing its total holdings to 411,598 shares valued at approximately $193 million.
• Deere & Company reported earnings of $4.75 per share for the last quarter, surpassing analysts' expectations, although its revenue decreased 9.0% year-over-year.
• The company recently announced a quarterly dividend of $1.62 per share, with an annual yield of 1.3% and a payout ratio of 31.35%.

Brandywine Global Investment Management LLC boosted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 10.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 411,598 shares of the industrial products company's stock after acquiring an additional 38,031 shares during the quarter. Deere & Company accounts for about 1.4% of Brandywine Global Investment Management LLC's investment portfolio, making the stock its 14th largest holding. Brandywine Global Investment Management LLC owned 0.15% of Deere & Company worth $193,184,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Aberdeen Group plc boosted its position in Deere & Company by 17.1% during the 1st quarter. Aberdeen Group plc now owns 267,809 shares of the industrial products company's stock worth $124,404,000 after acquiring an additional 39,085 shares during the period. Horizon Investments LLC lifted its holdings in shares of Deere & Company by 3.2% during the 1st quarter. Horizon Investments LLC now owns 4,596 shares of the industrial products company's stock valued at $2,157,000 after buying an additional 141 shares during the last quarter. Providence Capital Advisors LLC lifted its holdings in shares of Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after buying an additional 303 shares during the last quarter. Trivium Point Advisory LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at about $250,000. Finally, Sei Investments Co. lifted its holdings in shares of Deere & Company by 3.8% during the 1st quarter. Sei Investments Co. now owns 168,329 shares of the industrial products company's stock valued at $72,074,000 after buying an additional 6,184 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

DE traded up $2.9910 on Wednesday, hitting $492.4310. The company had a trading volume of 1,438,768 shares, compared to its average volume of 1,439,276. The company's fifty day moving average price is $509.47 and its 200 day moving average price is $490.15. Deere & Company has a 1-year low of $372.12 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a market cap of $133.37 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 3.13 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly 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 company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $6.29 EPS. Equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company's payout ratio is currently 33.87%.

Wall Street Analyst Weigh In

DE has been the subject of several research reports. Raymond James Financial lifted their price target on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Citigroup reduced their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Robert W. Baird reduced their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday, August 15th. Finally, Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $523.87.

Deere & Company 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.