Caxton Associates LLP Acquires Shares of 2,131 Deere & Company $DE

Key Points

• Caxton Associates LLP has acquired a new stake in Deere & Company, purchasing 2,131 shares valued at approximately $1,000,000.
• Deere & Company reported earnings per share (EPS) of $4.75 for the last quarter, exceeding analysts' expectations of $4.62, while revenue was down 9.0% compared to the previous year.
• The company will pay a quarterly dividend of $1.62 on November 10th, with a current yield of 1.4%.

Caxton Associates LLP acquired a new stake in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,131 shares of the industrial products company's stock, valued at approximately $1,000,000.

Several other large investors also recently bought and sold shares of the stock. Hamilton Capital LLC boosted its stake in Deere & Company by 6.0% in the first quarter. Hamilton Capital LLC now owns 817 shares of the industrial products company's stock valued at $383,000 after acquiring an additional 46 shares in the last quarter. Sciencast Management LP acquired a new position in Deere & Company in the first quarter valued at $244,000. Ashton Thomas Private Wealth LLC boosted its stake in Deere & Company by 11.1% in the first quarter. Ashton Thomas Private Wealth LLC now owns 8,605 shares of the industrial products company's stock valued at $4,053,000 after acquiring an additional 857 shares in the last quarter. Resources Management Corp CT ADV boosted its stake in Deere & Company by 75.0% in the first quarter. Resources Management Corp CT ADV now owns 350 shares of the industrial products company's stock valued at $164,000 after acquiring an additional 150 shares in the last quarter. Finally, Aberdeen Wealth Management LLC boosted its stake in Deere & Company by 3.1% in the first quarter. Aberdeen Wealth Management LLC now owns 1,026 shares of the industrial products company's stock valued at $482,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $471.54 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a market cap of $127.47 billion, a P/E ratio of 24.65, a PEG ratio of 3.06 and a beta of 1.00. Deere & Company has a 52 week low of $378.66 and a 52 week high of $533.78. The company has a 50-day moving average price of $499.13 and a 200 day moving average price of $490.41.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 earnings per share. Research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. BMO Capital Markets reiterated a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. JPMorgan Chase & Co. decreased their target price on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. Finally, Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $520.87.

About Deere & Company

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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