Deere & Company (NYSE:DE) Position Increased by De Lisle Partners LLP

Key Points

• De Lisle Partners LLP increased its stake in Deere & Company by 8.7%, now holding a total of 12,500 shares worth approximately $5.87 million, making it the firm's 26th largest position.
• Deere & Company reported quarterly earnings of $6.64 per share, exceeding expectations, with a significant revenue figure of $11.17 billion despite a year-over-year decrease of 17.9%.
• The firm's dividend of $1.62 per share will be distributed to shareholders on August 8th, reflecting an annualized yield of 1.27% with a payout ratio of 31.35%.

De Lisle Partners LLP increased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,500 shares of the industrial products company's stock after buying an additional 1,000 shares during the quarter. Deere & Company comprises approximately 1.0% of De Lisle Partners LLP's portfolio, making the stock its 26th biggest holding. De Lisle Partners LLP's holdings in Deere & Company were worth $5,870,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 19.9% in the 4th 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 purchasing an additional 1,095,736 shares during the period. Capital World Investors raised its holdings in shares of Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the period. FMR LLC raised its holdings in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC raised its holdings in shares of Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Deere & Company by 12.8% in the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock worth $1,235,394,000 after purchasing an additional 330,915 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DE has been the topic of a number of research reports. Citigroup cut their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Evercore ISI increased their target price on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. DA Davidson reiterated a "buy" rating and issued a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Finally, Truist Financial increased their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $515.50.

Deere & Company Stock Down 4.5%

NYSE DE traded down $23.43 during mid-day trading on Friday, reaching $500.94. 1,622,746 shares of the company's stock traded hands, compared to its average volume of 1,342,766. The company has a market cap of $135.67 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 3.22 and a beta of 1.08. The company has a fifty day simple moving average of $512.43 and a 200-day simple moving average of $486.52. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business's revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the firm earned $8.53 EPS. As a group, equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Deere & 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.