1,250 Shares in Deere & Company $DE Acquired by Corient IA LLC

Key Points

• Corient IA LLC invested approximately $587,000 in Deere & Company by acquiring 1,250 shares in the first quarter.
• Deere reported earnings of $4.75 per share for the quarter, exceeding estimates, but revenue decreased by 9% year-over-year to $10.36 billion.
• A quarterly dividend of $1.62 per share was recently paid, providing a 1.3% yield for investors, with a payout ratio of 31.35%.

Corient IA LLC purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,250 shares of the industrial products company's stock, valued at approximately $587,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after acquiring an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the last quarter. Capital World Investors grew its position in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after acquiring an additional 157,224 shares during the last quarter. Northern Trust Corp grew its position in shares of Deere & Company by 12.8% during the fourth quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock worth $1,235,394,000 after acquiring an additional 330,915 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Deere & Company by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company's stock worth $1,096,179,000 after acquiring an additional 184,203 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DE. Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a research report on Tuesday. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Citigroup lowered their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, Bank of America lifted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $523.87.

Deere & Company Price Performance

Shares of NYSE DE traded down $6.3760 during trading on Thursday, hitting $486.3440. 844,759 shares of the company were exchanged, compared to its average volume of 1,365,354. The company has a market cap of $131.72 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 3.13 and a beta of 1.06. Deere & Company has a 1 year low of $373.55 and a 1 year high of $533.78. The firm's fifty day moving average price is $509.47 and its 200 day moving average price is $490.15. 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 released its quarterly earnings data 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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the firm earned $6.29 EPS. The business's revenue for the quarter was down 9.0% compared to the same quarter last year. On average, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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.