Eurizon Capital SGR S.p.A. Invests $50.66 Million in Deere & Company $DE

Eurizon Capital SGR S.p.A. bought a new position in shares of Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 108,718 shares of the industrial products company's stock, valued at approximately $50,663,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Brighton Jones LLC boosted its position in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company's stock valued at $1,056,000 after acquiring an additional 150 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Deere & Company during the 2nd quarter valued at about $2,153,000. NewEdge Advisors LLC boosted its position in shares of Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company's stock valued at $9,538,000 after acquiring an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its position in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company's stock valued at $789,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DE shares. Bank of America lowered their price target on shares of Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Sanford C. Bernstein boosted their price target 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. Barclays boosted their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a research report on Tuesday, March 31st. Argus upped 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. Finally, UBS Group upped their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, Deere & Company has a consensus rating of "Moderate Buy" and an average price target of $638.08.

Deere & Company Trading Up 0.6%

NYSE DE opened at $542.34 on Friday. The firm's 50-day moving average is $572.29 and its two-hundred day moving average is $542.07. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market capitalization of $146.49 billion, a P/E ratio of 30.73, a PEG ratio of 2.01 and a beta of 0.96.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. During the same quarter in the prior year, the company posted $6.64 earnings per share. Deere & Company's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company's dividend payout ratio is currently 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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