Deere & Company $DE Shares Purchased by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management LP increased its Deere & Company stake by 14.8% in the fourth quarter, buying 2,440 more shares and bringing its total position to 18,922 shares worth about $8.81 million.
• Other institutional investors also boosted their holdings, including major moves by Norges Bank, Capital World Investors, and Northwestern Mutual Wealth Management Co., and institutions now own 68.58% of Deere’s stock.
• Analysts remain generally positive on Deere, with 14 Buy ratings and nine Hold ratings, while the company also reported stronger-than-expected quarterly results and declared a $1.62 quarterly dividend payable August 10.

Lyell Wealth Management LP grew its position in shares of Deere & Company (NYSE:DE - Free Report) by 14.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,922 shares of the industrial products company's stock after purchasing an additional 2,440 shares during the period. Lyell Wealth Management LP's holdings in Deere & Company were worth $8,810,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DE. Norges Bank purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $1,715,633,000. Capital World Investors raised its stake in shares of Deere & Company by 53.9% during the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock valued at $932,870,000 after purchasing an additional 1,893,972 shares during the period. M&T Bank Corp raised its stake in shares of Deere & Company by 1,199.8% during the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock valued at $868,149,000 after purchasing an additional 1,721,239 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Deere & Company by 278.0% during the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company's stock valued at $223,005,000 after purchasing an additional 358,687 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Wolfe Research lifted their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research note on Tuesday, March 31st. Barclays lifted their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a research note on Tuesday, March 31st. Raymond James Financial dropped their price target on shares of Deere & Company from $765.00 to $700.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Finally, UBS Group lifted their price target on shares of Deere & Company from $535.00 to $775.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, Deere & Company has an average rating of "Moderate Buy" and an average price target of $639.58.

Deere & Company Stock Up 1.6%

Shares of NYSE:DE opened at $569.09 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a fifty day simple moving average of $573.17 and a 200 day simple moving average of $548.69. The firm has a market cap of $153.62 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.92. 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, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.64 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's payout ratio is currently 36.71%.

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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