Deere & Company $DE Stock Holdings Lowered by Canada Post Corp Registered Pension Plan

Key Points

• Canada Post Corp Registered Pension Plan reduced its Deere & Company stake by 41.4% in the fourth quarter, selling 5,356 shares and leaving it with 7,585 shares valued at about $3.53 million.
• Deere reported strong quarterly results, with earnings of $2.42 per share versus $1.90 expected and revenue of $9.61 billion, up 17.5% year over year.
• The company recently paid a quarterly dividend of $1.62 per share and has a consensus analyst rating of Moderate Buy, with a target price of $655.45.

Canada Post Corp Registered Pension Plan lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 41.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,585 shares of the industrial products company's stock after selling 5,356 shares during the period. Canada Post Corp Registered Pension Plan's holdings in Deere & Company were worth $3,531,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its position in Deere & Company by 3.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 69,590 shares of the industrial products company's stock valued at $32,399,000 after buying an additional 2,138 shares in the last quarter. WealthPlan Investment Management LLC grew its position in Deere & Company by 8.6% in the 4th quarter. WealthPlan Investment Management LLC now owns 1,149 shares of the industrial products company's stock valued at $535,000 after buying an additional 91 shares in the last quarter. Hills Bank & Trust Co grew its position in Deere & Company by 2.7% in the 4th quarter. Hills Bank & Trust Co now owns 7,204 shares of the industrial products company's stock valued at $3,354,000 after buying an additional 187 shares in the last quarter. Stephens Inc. AR grew its position in Deere & Company by 1.4% in the 4th quarter. Stephens Inc. AR now owns 7,471 shares of the industrial products company's stock valued at $3,478,000 after buying an additional 105 shares in the last quarter. Finally, AlphaCore Capital LLC grew its position in Deere & Company by 6.7% in the 4th quarter. AlphaCore Capital LLC now owns 3,115 shares of the industrial products company's stock valued at $1,450,000 after buying an additional 195 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

NYSE:DE opened at $562.12 on Monday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $580.96 and a 200-day moving average of $537.44. The firm has a market cap of $151.83 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

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

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. Deere & Company's dividend payout ratio (DPR) is 36.53%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DE. Raymond James Financial reiterated an "outperform" rating and issued a $765.00 target price on shares of Deere & Company in a research report on Monday, February 23rd. Robert W. Baird decreased their target price on shares of Deere & Company from $675.00 to $580.00 and set a "neutral" rating for the company in a research report on Thursday, April 2nd. Argus increased their target price on shares of Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Sanford C. Bernstein increased their target price on shares of Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a research report on Friday, February 20th. Finally, Wall Street Zen upgraded shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Fifteen 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, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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