Ieq Capital LLC Acquires 3,592 Shares of Deere & Company $DE

Key Points

• Ieq Capital LLC significantly increased its holdings in Deere & Company by 70.8% in the first quarter, now owning 8,662 shares valued at approximately $4,066,000.
• Deere & Company reported $4.75 earnings per share (EPS) for the recent quarter, beating estimates, with revenue of $10.36 billion, although it represents a 9% decline year-over-year.
• The company announced a quarterly dividend of $1.62 per share, with a payout ratio of 33.87% and a dividend yield of 1.4%, to be paid on November 10th.

Ieq Capital LLC boosted its stake in Deere & Company (NYSE:DE - Free Report) by 70.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,662 shares of the industrial products company's stock after purchasing an additional 3,592 shares during the period. Ieq Capital LLC's holdings in Deere & Company were worth $4,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DE. Assenagon Asset Management S.A. raised its stake in shares of Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after acquiring an additional 798 shares during the last quarter. Providence Capital Advisors LLC raised its stake in shares of Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after acquiring an additional 303 shares during the last quarter. Bragg Financial Advisors Inc boosted its holdings in Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after acquiring an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in Deere & Company in the first quarter valued at approximately $13,588,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 0.5%

DE traded down $2.46 during midday trading on Tuesday, hitting $476.18. The company had a trading volume of 1,600,596 shares, compared to its average volume of 1,359,192. Deere & Company has a 52 week low of $378.66 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $128.73 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.07 and a beta of 1.00. The stock's 50 day moving average price is $504.33 and its 200 day moving average price is $491.37.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating 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 firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $6.29 earnings per share. The business's revenue was down 9.0% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business 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. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Raymond James Financial lifted their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. DA Davidson lowered their target price on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Finally, Robert W. Baird lowered their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Moderate Buy" and an average 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.