Caisse DE Depot ET Placement DU Quebec Takes Position in Deere & Company $DE

Key Points

• Caisse DE Depot ET Placement DU Quebec acquired a new stake in Deere & Company, purchasing 42,537 shares valued at approximately $19.97 million in the first quarter.
• Deere & Company reported earnings of $4.75 per share, exceeding estimates, but experienced a 9% year-over-year revenue decline to $10.36 billion for the quarter.
• Analyst ratings for Deere & Company are generally positive, with one analyst giving a Strong Buy rating and a majority suggesting a Moderate Buy with an average target price of $523.87.

Caisse DE Depot ET Placement DU Quebec bought a new stake in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 42,537 shares of the industrial products company's stock, valued at approximately $19,965,000.

Several other institutional investors also recently modified their holdings of the business. Chicago Partners Investment Group LLC grew its holdings in shares of Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock valued at $852,000 after acquiring an additional 21 shares in the last quarter. Tyler Stone Wealth Management grew its holdings in Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock valued at $577,000 after purchasing an additional 21 shares during the period. Sunbelt Securities Inc. grew its holdings in Deere & Company by 2.4% during the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares during the period. First Bancorp Inc ME grew its holdings in Deere & Company by 4.7% during the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock valued at $239,000 after purchasing an additional 23 shares during the period. Finally, Leisure Capital Management grew its holdings in Deere & Company by 0.8% during the first quarter. Leisure Capital Management now owns 2,886 shares of the industrial products company's stock valued at $1,355,000 after purchasing an additional 23 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 0.1%

NYSE:DE opened at $488.59 on Wednesday. The company has a market cap of $132.32 billion, a P/E ratio of 25.54, a P/E/G ratio of 3.13 and a beta of 1.06. The stock's fifty day moving average price is $507.17 and its two-hundred day moving average price is $490.91. Deere & Company has a 1 year low of $374.46 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.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The firm 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 business's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.29 earnings per share. As a group, analysts expect that Deere & Company will post 19.32 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on DE. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Bank of America increased their price objective on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Barclays increased their price objective on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. One equities 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. Based on data from MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average target price 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.

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