Deere & Company $DE Shares Acquired by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management increased its Deere & Company stake by 141.5% in the fourth quarter, ending with 33,360 shares valued at about $15.7 million.
• Deere reported strong quarterly results, with EPS of $6.55 beating estimates and revenue of $13.37 billion coming in above expectations.
• The company declared a quarterly dividend of $1.62 per share, payable August 10, and analysts currently rate the stock a Moderate Buy with a consensus target price of $639.58.

Rakuten Investment Management Inc. grew its stake in Deere & Company (NYSE:DE - Free Report) by 141.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,360 shares of the industrial products company's stock after purchasing an additional 19,546 shares during the period. Rakuten Investment Management Inc.'s holdings in Deere & Company were worth $15,687,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. boosted its holdings in shares of Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock worth $1,056,000 after purchasing an additional 150 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Deere & Company during the second quarter worth $2,153,000. NewEdge Advisors LLC boosted its holdings in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock worth $9,538,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock worth $789,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Down 0.3%

NYSE:DE opened at $575.87 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The business's 50-day simple moving average is $573.28 and its 200 day simple moving average is $549.86. The stock has a market cap of $155.45 billion, a price-to-earnings ratio of 32.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly 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. The business had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.64 earnings per share. As a group, sell-side analysts predict that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders 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 dividend yield of 1.1%. Deere & Company's dividend payout ratio is 36.71%.

Analyst Ratings Changes

DE has been the topic of several analyst reports. Argus raised their price objective on Deere & Company from $540.00 to $700.00 and gave the stock a "buy" rating in a report on Tuesday, March 3rd. Weiss Ratings upgraded Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Citigroup decreased their price objective on Deere & Company from $625.00 to $595.00 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective on the stock in a report on Wednesday, April 8th. Finally, Sanford C. Bernstein lifted their target price on Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a report on Friday, February 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and a consensus target price of $639.58.

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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