Deere & Company $DE Shares Acquired by Principal Financial Group Inc.

Key Points

• Principal Financial Group Inc. raised its stake in Deere & Company by 5.2% in Q4, buying 38,076 shares to hold 774,076 shares (about 0.29% of the company) valued at roughly $360.4 million.
• Deere beat quarterly expectations, reporting $2.42 EPS versus a $1.90 consensus and $9.61 billion in revenue versus $7.50 billion, with revenue up 17.5% year‑over‑year and a net margin of 10.29%.
• The firm declared a quarterly dividend of $1.62 per share (annualized $6.48, yield 1.1%, ex-dividend March 31), while analysts carry a consensus "Moderate Buy" rating with an average price target of $655.45.

Principal Financial Group Inc. lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 5.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 774,076 shares of the industrial products company's stock after purchasing an additional 38,076 shares during the quarter. Principal Financial Group Inc. owned about 0.29% of Deere & Company worth $360,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Csenge Advisory Group increased its position in Deere & Company by 84.9% during the third quarter. Csenge Advisory Group now owns 7,440 shares of the industrial products company's stock worth $3,402,000 after buying an additional 3,416 shares during the last quarter. Spectrum Financial Alliance Ltd LLC increased its position in Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company's stock worth $39,737,000 after buying an additional 30,553 shares during the last quarter. Compagnie Lombard Odier SCmA increased its position in Deere & Company by 66.1% during the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company's stock worth $12,606,000 after buying an additional 10,974 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in Deere & Company by 263.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 17,308 shares of the industrial products company's stock worth $7,942,000 after buying an additional 12,551 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company's stock worth $9,682,000 after buying an additional 2,702 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.1%

Shares of NYSE:DE opened at $577.66 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The stock has a market cap of $156.03 billion, a PE ratio of 32.56, a P/E/G ratio of 2.01 and a beta of 0.96. The business has a 50 day moving average of $590.37 and a 200-day moving average of $530.04. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. The business had revenue of $9.61 billion during the quarter, compared to analysts' expectations of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.19 earnings per share. As a group, equities research analysts forecast that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.1%. Deere & Company's dividend payout ratio is presently 36.53%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DE shares. JPMorgan Chase & Co. boosted their price target on Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a research report on Friday, April 10th. Oppenheimer reissued an "outperform" rating and set a $715.00 price target on shares of Deere & Company in a research report on Friday, February 20th. Truist Financial boosted their price objective on Deere & Company from $612.00 to $793.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Sanford C. Bernstein boosted their price objective on Deere & Company from $521.00 to $615.00 and gave the stock a "market perform" rating in a report on Friday, February 20th. Finally, Wolfe Research boosted their price objective on Deere & Company from $550.00 to $660.00 and gave the stock an "outperform" rating in a report on Tuesday, March 31st. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $655.45.

Deere & Company 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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