Eurizon Capital SGR S.p.A. Buys 84,039 Shares of Deere & Company $DE

Key Points

• Eurizon Capital SGR increased its Deere & Company stake by 57.2% in the third quarter, purchasing 84,039 shares and bringing its holdings to 231,004 shares, valued at about $155.8 million.
• Deere reported quarterly EPS of $5.10, beating the $4.69 consensus, while revenue of $12.61 billion also exceeded estimates and rose 6.2% year over year.
• Analysts give the stock a “Moderate Buy” consensus rating, with a $688.10 average price target; the company’s annualized dividend is $6.48 per share, a yield of roughly 1%.

Eurizon Capital SGR S.p.A. boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 57.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,004 shares of the industrial products company's stock after buying an additional 84,039 shares during the quarter. Eurizon Capital SGR S.p.A. owned approximately 0.09% of Deere & Company worth $155,790,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DE. BlackRock Inc. bought a new stake in shares of Deere & Company during the second quarter valued at approximately $11,763,504,000. Wellington Management Group LLP boosted its holdings in shares of Deere & Company by 84.3% in the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company's stock valued at $1,959,209,000 after purchasing an additional 1,412,694 shares during the period. Bank of America Corp DE boosted its holdings in shares of Deere & Company by 0.3% in the first quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company's stock valued at $1,567,327,000 after purchasing an additional 7,918 shares during the period. Bank of New York Mellon Corp bought a new position in Deere & Company in the second quarter worth approximately $1,259,279,000. Finally, Legal & General Group Plc bought a new position in Deere & Company in the second quarter worth approximately $957,456,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE DE opened at $678.86 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm's 50 day moving average price is $668.78 and its 200-day moving average price is $611.46. Deere & Company has a 52-week low of $455.90 and a 52-week high of $721.22. The company has a market cap of $183.04 billion, a PE ratio of 38.43, a P/E/G ratio of 1.96 and a beta of 0.89.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. Deere & Company's revenue was up 6.2% compared to the same quarter last year. During the same period last year, the company posted $4.75 earnings per share. Sell-side analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th were issued a $1.62 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is currently 36.00%.

Analyst Ratings Changes

DE has been the topic of several research reports. UBS Group reduced their price objective on Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a report on Friday, August 21st. CICC Research assumed coverage on Deere & Company in a report on Sunday, September 13th. They issued an "outperform" rating for the company. Raymond James Financial increased their price target on Deere & Company from $700.00 to $730.00 and gave the stock an "outperform" rating in a research report on Monday, August 31st. Robert W. Baird upgraded Deere & Company from a "neutral" rating to an "outperform" rating and raised their price target for the company from $640.00 to $800.00 in a research note on Monday, August 31st. Finally, Bank of America lifted their price objective on Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of "Moderate Buy" and a consensus target price of $688.10.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.

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