Adage Capital Partners GP L.L.C. Has $52.73 Million Holdings in Deere & Company $DE

Key Points

• Adage Capital Partners GP L.L.C. increased its holdings in Deere & Company by 107.5%, owning 112,342 shares worth approximately $52.7 million after purchasing an additional 58,199 shares in the 1st quarter.
• Deere & Company reported an earnings per share of $4.75 for the last quarter, exceeding analysts' estimates, although its quarterly revenue declined by 9% year-over-year.
• The company declared a quarterly dividend of $1.62, which is set to be paid on November 10th, reflecting an annualized dividend yield of 1.4%.

Adage Capital Partners GP L.L.C. increased its stake in Deere & Company (NYSE:DE - Free Report) by 107.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,342 shares of the industrial products company's stock after purchasing an additional 58,199 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Deere & Company were worth $52,728,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of DE. Brighton Jones LLC grew its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Caxton Associates LP bought a new position in Deere & Company in the fourth quarter valued at about $261,000. Colonial Trust Co SC grew its position in Deere & Company by 5.1% in the fourth quarter. Colonial Trust Co SC now owns 3,187 shares of the industrial products company's stock valued at $1,350,000 after acquiring an additional 155 shares during the last quarter. EP Wealth Advisors LLC grew its position in Deere & Company by 10.8% in the fourth quarter. EP Wealth Advisors LLC now owns 5,480 shares of the industrial products company's stock valued at $2,322,000 after acquiring an additional 535 shares during the last quarter. Finally, Clark Capital Management Group Inc. grew its position in Deere & Company by 11.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 3,103 shares of the industrial products company's stock valued at $1,315,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 1.5%

Shares of Deere & Company stock traded down $7.17 during midday trading on Tuesday, reaching $474.35. The company had a trading volume of 469,943 shares, compared to its average volume of 1,354,430. Deere & Company has a fifty-two week low of $378.66 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The stock has a fifty day moving average price of $500.77 and a 200 day moving average price of $490.65. The firm has a market cap of $128.23 billion, a PE ratio of 24.80, a P/E/G ratio of 3.04 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm 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 earnings per share. The company's revenue was down 9.0% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company's payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. Bank of America lifted their target price on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. DA Davidson reduced their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Finally, Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $520.87.

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.