Deere & Company $DE Position Boosted by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Deere & Company by 97.1% in Q1, owning nearly 0.27% of the company, valued at approx. $344 million.
• Deere reported earnings of $4.75 per share, exceeding estimates, with quarterly revenue of $10.36 billion, a decline of 9% year-over-year.
• The company announced a quarterly dividend of $1.62 per share, resulting in an annualized yield of 1.4%, payable on November 10th.

Voya Investment Management LLC raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 97.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,871 shares of the industrial products company's stock after acquiring an additional 361,526 shares during the quarter. Voya Investment Management LLC owned approximately 0.27% of Deere & Company worth $344,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Activest Wealth Management grew its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC grew its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 36 shares in the last quarter. Orion Capital Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $34,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 1.0%

DE opened at $476.24 on Friday. The business has a 50 day moving average price of $498.30 and a 200 day moving average price of $490.35. Deere & Company has a twelve month low of $383.10 and a twelve month high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market cap of $128.74 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 3.03 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the company earned $6.29 EPS. The company's revenue for the quarter was down 9.0% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

DE has been the topic of several research analyst reports. BMO Capital Markets reaffirmed 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. Bank of America lifted their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Truist Financial reduced their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Citigroup reduced their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and an average target price 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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