Deere & Company (NYSE:DE) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Deere & Company by 235.2%, acquiring an additional 5,028 shares, bringing its total to 7,166 shares valued at approximately $3.36 million.
• Deere & Company reported a quarterly earnings per share (EPS) of $6.64, exceeding estimates of $5.72, with revenue reaching $11.17 billion, also surpassing analyst expectations.
• The company declared a quarterly dividend of $1.62 per share, with an ex-dividend date set for June 30th, leading to a projected annual dividend yield of 1.27%.

XTX Topco Ltd boosted its holdings in Deere & Company (NYSE:DE - Free Report) by 235.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,166 shares of the industrial products company's stock after purchasing an additional 5,028 shares during the quarter. XTX Topco Ltd's holdings in Deere & Company were worth $3,363,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Capital World Investors lifted its stake in Deere & Company by 2.7% in 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. FMR LLC lifted its stake in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC lifted its stake in Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after buying an additional 97,203 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Deere & Company by 12.8% in 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. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock traded down $4.32 during trading hours on Wednesday, hitting $508.18. The stock had a trading volume of 1,120,895 shares, compared to its average volume of 1,017,374. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market capitalization of $137.63 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 3.25 and a beta of 1.08. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The stock's fifty day moving average is $512.26 and its two-hundred day moving average is $485.87.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company's revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.53 earnings per share. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Monday, June 30th. Deere & Company's payout ratio is currently 31.35%.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Citigroup reduced their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Truist Financial boosted their price objective on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $515.50.

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.