Deere & Company $DE Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its Deere stake by 13.4% in the fourth quarter, buying 45,782 additional shares and bringing its total holding to 388,595 shares worth about $180.9 million.
• Deere’s latest earnings beat expectations, with quarterly EPS of $6.55 versus the $5.70 consensus and revenue of $13.37 billion versus $11.55 billion expected, while revenue also rose 5.4% year over year.
• Analysts remain broadly constructive on the stock: Deere now has a Moderate Buy consensus with an average target price of $638.08, and the company also announced a quarterly dividend of $1.62 per share.

Natixis Advisors LLC increased its position in Deere & Company (NYSE:DE - Free Report) by 13.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 388,595 shares of the industrial products company's stock after purchasing an additional 45,782 shares during the period. Natixis Advisors LLC owned 0.14% of Deere & Company worth $180,919,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Cerro Pacific Wealth Advisors LLC grew its stake in Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock worth $1,480,000 after purchasing an additional 19 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock worth $379,000 after purchasing an additional 19 shares in the last quarter. Root Financial Partners LLC grew its stake in Deere & Company by 2.2% in the fourth quarter. Root Financial Partners LLC now owns 880 shares of the industrial products company's stock worth $410,000 after purchasing an additional 19 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in Deere & Company by 2.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 773 shares of the industrial products company's stock worth $360,000 after purchasing an additional 20 shares in the last quarter. Finally, Family Legacy Inc. grew its stake in Deere & Company by 0.3% in the fourth quarter. Family Legacy Inc. now owns 7,894 shares of the industrial products company's stock worth $3,675,000 after purchasing an additional 20 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Deere & Company from $550.00 to $560.00 and gave the stock a "neutral" rating in a research note on Friday, May 22nd. Wells Fargo & Company raised their target price on shares of Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a report on Friday, February 20th. Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. DA Davidson cut their target price on shares of Deere & Company from $775.00 to $685.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Finally, Robert W. Baird cut their target price on shares of Deere & Company from $580.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Fifteen analysts have rated the stock with a Buy rating and nine have issued 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 target price of $638.08.

Deere & Company Price Performance

Shares of NYSE:DE opened at $541.30 on Tuesday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a market cap of $146.12 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.01 and a beta of 0.92. The stock's 50 day moving average price is $571.78 and its 200 day moving average price is $542.99. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter in the previous year, the company earned $6.64 earnings per share. The firm's quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 18.08 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.2%. Deere & Company's payout ratio is presently 36.71%.

Deere & Company Profile

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.

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