Corient Private Wealth LLC grew its position in Deere & Company (NYSE:DE - Free Report) by 76.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 632,157 shares of the industrial products company's stock after purchasing an additional 273,842 shares during the quarter. Corient Private Wealth LLC owned approximately 0.23% of Deere & Company worth $294,351,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in Deere & Company in the 4th quarter valued at $1,715,633,000. Capital World Investors lifted its position in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock worth $932,870,000 after acquiring an additional 1,893,972 shares during the last quarter. M&T Bank Corp boosted its holdings in Deere & Company by 1,199.8% during the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock valued at $868,149,000 after acquiring an additional 1,721,239 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Deere & Company by 32.5% in the fourth quarter. Wellington Management Group LLP now owns 2,436,723 shares of the industrial products company's stock valued at $1,134,465,000 after purchasing an additional 597,087 shares during the last quarter. 68.58% of the stock is owned by institutional investors.
Deere & Company Stock Up 0.2%
NYSE DE opened at $590.37 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock has a market cap of $159.36 billion, a PE ratio of 33.45, a PEG ratio of 2.18 and a beta of 0.92. The firm has a 50-day simple moving average of $573.71 and a 200 day simple moving average of $552.66. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.
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 (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $6.64 earnings per share. On average, research analysts forecast that Deere & Company will post 18.13 EPS 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 issued a $1.62 dividend. 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 is presently 36.71%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on DE. Sanford C. Bernstein lifted their price objective on Deere & Company from $521.00 to $615.00 and gave the stock a "market perform" rating in a research note on Friday, February 20th. Wolfe Research increased their target price on Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research note on Tuesday, March 31st. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an "outperform" rating on the stock in a research report on Friday, May 22nd. Morgan Stanley upped their price target on Deere & Company from $560.00 to $730.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Finally, Argus increased their price objective on Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Fourteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, Deere & Company has a consensus rating of "Moderate Buy" and an average price target of $639.58.
View Our Latest Stock Analysis on DE
About Deere & Company
(
Free Report)
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.
See Also
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