Capital International Inc. CA Has $52.03 Million Stock Position in Deere & Company $DE

Key Points

• Capital International Inc. CA more than doubled its Deere & Company stake in the fourth quarter, increasing holdings by 106.2% to 111,758 shares worth about $52.0 million.
• Deere’s stock was down 1.3% in Friday trading, opening at $583.80, while the company’s market cap stood at $157.6 billion and its shares traded near both their 50-day and 200-day moving averages.
• Deere recently beat Wall Street expectations on earnings and revenue, and it also announced a quarterly dividend of $1.62 per share; analysts currently rate the stock Moderate Buy with a consensus price target of $639.58.

Capital International Inc. CA grew its position in Deere & Company (NYSE:DE - Free Report) by 106.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,758 shares of the industrial products company's stock after buying an additional 57,560 shares during the quarter. Capital International Inc. CA's holdings in Deere & Company were worth $52,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cary Street Partners Financial LLC raised its position in shares of Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company's stock valued at $4,801,000 after purchasing an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC raised its position in shares of Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company's stock valued at $39,737,000 after purchasing an additional 30,553 shares during the period. Compagnie Lombard Odier SCmA raised its position in shares of Deere & Company by 66.1% in the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company's stock valued at $12,606,000 after purchasing an additional 10,974 shares during the period. Public Sector Pension Investment Board raised its position in shares of Deere & Company by 14.6% in the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company's stock valued at $9,682,000 after purchasing an additional 2,702 shares during the period. Finally, Westpac Banking Corp raised its position in shares of Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company's stock valued at $3,224,000 after purchasing an additional 3,047 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.3%

DE opened at $583.80 on Friday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The firm's fifty day moving average price is $572.86 and its two-hundred day moving average price is $545.60. The company has a market capitalization of $157.59 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.16 and a beta of 0.92.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly 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. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the company earned $6.64 earnings per share. The business's revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company's payout ratio is currently 36.71%.

Analysts Set New Price Targets

A number of research firms have recently commented on DE. Robert W. Baird dropped their price target on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Jefferies Financial Group raised shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price target on the stock in a research report on Wednesday, April 8th. Morgan Stanley lifted their price target on shares of Deere & Company from $560.00 to $730.00 and gave the company an "overweight" rating in a research report on Monday, February 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Finally, Argus lifted their price target on shares of Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $639.58.

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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