Calamos Advisors LLC Raises Stock Holdings in Deere & Company $DE

Key Points

• Calamos Advisors LLC boosted its Deere & Company stake by 50.4% in the first quarter, adding 25,527 shares to bring its total to 76,146 shares valued at about $42.9 million.
• Deere reported stronger-than-expected quarterly results, with earnings per share of $6.55 versus the $5.70 consensus and revenue of $13.37 billion, up 5.4% year over year.
• Analysts remain generally positive on DE, with 14 Buy ratings, 9 Hold ratings, and a consensus price target of $642.23; the stock also recently announced a quarterly dividend of $1.62 per share.

Calamos Advisors LLC grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 50.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,146 shares of the industrial products company's stock after acquiring an additional 25,527 shares during the period. Calamos Advisors LLC's holdings in Deere & Company were worth $42,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Strategic Advocates LLC purchased a new stake in shares of Deere & Company in the 3rd quarter worth about $25,000. Key Capital Management INC bought a new stake in Deere & Company in the fourth quarter worth $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company in the 4th quarter worth about $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. Finally, Portus Wealth Advisors LLC bought a new position in Deere & Company in the 1st quarter valued at approximately $32,000. Institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DE. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Citigroup cut their price target on Deere & Company from $625.00 to $595.00 and set a "neutral" rating for the company in a report on Friday, May 22nd. Barclays upped their price target on shares of Deere & Company from $530.00 to $640.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 31st. Raymond James Financial lowered their price target on Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a report on Friday, May 22nd. Finally, Truist Financial lifted their target price on Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $642.23.

Deere & Company Price Performance

DE stock opened at $586.06 on Tuesday. The stock has a market cap of $158.20 billion, a PE ratio of 33.20, a P/E/G ratio of 2.17 and a beta of 0.89. The company has a 50-day moving average price of $581.64 and a 200 day moving average price of $568.53. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the business posted $6.64 earnings per share. The company's revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

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

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.

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