Capital Planning Advisors LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

Key Points

• Capital Planning Advisors LLC increased its stake in Deere & Company by 17.3% during Q1, holding 4,195 shares valued at approximately $1.97 million.
• Deere & Company reported a Q1 EPS of $6.64, exceeding expectations of $5.72, despite a year-over-year revenue decline of 17.9%.
• The firm announced a quarterly dividend of $1.62, resulting in an annualized payout of $6.48 and a dividend yield of 1.3%.

Capital Planning Advisors LLC increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,195 shares of the industrial products company's stock after buying an additional 618 shares during the quarter. Capital Planning Advisors LLC's holdings in Deere & Company were worth $1,969,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DE. Vanguard Group Inc. boosted its holdings in Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after buying an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Capital World Investors raised its position in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after buying an additional 157,224 shares during the last quarter. Northern Trust Corp raised its position in shares of Deere & Company by 12.8% during the fourth quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock valued at $1,235,394,000 after buying an additional 330,915 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Deere & Company by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company's stock worth $1,096,179,000 after acquiring an additional 184,203 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore ISI boosted their price objective on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Raymond James Financial raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Truist Financial decreased their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $521.47.

Deere & Company Stock Performance

Shares of DE traded up $9.00 during trading hours on Friday, reaching $487.84. 1,383,875 shares of the company's stock traded hands, compared to its average volume of 1,358,422. The business's fifty day simple moving average is $511.80 and its two-hundred day simple moving average is $489.83. The firm has a market capitalization of $132.12 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 3.26 and a beta of 1.06. Deere & Company has a twelve month low of $371.16 and a twelve month high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter last year, the company earned $6.29 EPS. Deere & Company's revenue was down 9.0% on a year-over-year basis. Analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 31.35%.

Deere & 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.