Deere & Company $DE Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC cut its Deere & Company stake by 15.9% in the fourth quarter, selling 1,850 shares and leaving it with 9,792 shares valued at about $4.56 million.
• Other major institutional investors also adjusted positions, with firms like Vanguard and Geode adding shares; overall, institutions now own 68.58% of Deere’s stock.
• Deere reported stronger-than-expected quarterly results, with EPS of $6.55 and revenue of $13.37 billion, and it also announced a quarterly dividend of $1.62 per share payable on August 10.

Intech Investment Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,792 shares of the industrial products company's stock after selling 1,850 shares during the period. Intech Investment Management LLC's holdings in Deere & Company were worth $4,559,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Deere & Company by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock valued at $10,514,053,000 after buying an additional 198,332 shares during the last quarter. Capital World Investors grew its position in shares of Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company's stock valued at $2,850,687,000 after buying an additional 322,582 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Deere & Company by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company's stock valued at $2,609,149,000 after buying an additional 17,269 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Deere & Company by 4.8% during the 4th quarter. Fisher Asset Management LLC now owns 2,853,156 shares of the industrial products company's stock valued at $1,328,344,000 after buying an additional 131,138 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Deere & Company by 1,725.8% during the 4th 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 buying an additional 1,893,972 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Truist Financial lowered their price objective on shares of Deere & Company from $793.00 to $759.00 and set a "buy" rating for the company in a research report on Tuesday, May 26th. Oppenheimer reaffirmed an "outperform" rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research report on Wednesday. BMO Capital Markets boosted their price objective on shares of Deere & Company from $460.00 to $500.00 and gave the company a "market perform" rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada boosted their target price on shares of Deere & Company from $736.00 to $752.00 and gave the company an "outperform" rating in a research note on Tuesday, May 26th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $638.08.

Deere & Company Trading Up 0.0%

Deere & Company stock opened at $542.34 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The firm has a 50-day moving average price of $572.29 and a two-hundred day moving average price of $542.55. The firm has a market capitalization of $146.40 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 2.01 and a beta of 0.92. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. The firm 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%. Deere & Company's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $6.64 EPS. Sell-side analysts expect that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. 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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