Border to Coast Pensions Partnership Ltd Increases Holdings in Deere & Company $DE

Key Points

• Border to Coast Pensions Partnership Ltd increased its stake in Deere & Company by 21.3%, acquiring an additional 22,048 shares during the second quarter, which made up 1.2% of its investment portfolio.
• Deere & Company reported earnings of $4.75 per share for the last quarter, exceeding expectations, although revenue declined by 9% compared to the previous year.
• The company declared a quarterly dividend of $1.62 per share, with an annualized yield of 1.4% that will be paid to shareholders on November 10th.

Border to Coast Pensions Partnership Ltd grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 21.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 125,558 shares of the industrial products company's stock after acquiring an additional 22,048 shares during the period. Deere & Company comprises about 1.2% of Border to Coast Pensions Partnership Ltd's holdings, making the stock its 24th largest holding. Border to Coast Pensions Partnership Ltd's holdings in Deere & Company were worth $63,845,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management grew its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC bought a new position in Deere & Company in the 1st quarter valued at approximately $29,000. Cornerstone Planning Group LLC lifted its position in Deere & Company by 116.1% in 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. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the 2nd quarter valued at $38,000. Finally, Mascagni Wealth Management Inc. bought a new position in shares of Deere & Company during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 0.1%

Shares of NYSE:DE traded down $0.69 during trading hours on Monday, hitting $468.94. 1,678,820 shares of the company's stock traded hands, compared to its average volume of 1,377,932. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The business has a fifty day moving average price of $493.23 and a 200-day moving average price of $490.37. The firm has a market capitalization of $126.77 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.29 earnings per share. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's payout ratio is presently 33.87%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Oppenheimer lowered their price objective on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday. Robert W. Baird cut their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Deere & Company has an average rating of "Moderate Buy" and an average price target of $517.27.

Deere & Company 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.