Fideuram Asset Management Ireland dac Takes $1.36 Million Position in Deere & Company $DE

Key Points

• Fideuram Asset Management Ireland dac disclosed a new position in Deere & Company during the fourth quarter, buying 2,862 shares valued at about $1.36 million.
• Deere continues to draw heavy institutional interest, with hedge funds and other large investors owning 68.58% of the stock and several firms significantly increasing their stakes recently.
• Analysts remain constructive overall: Deere has a Moderate Buy consensus, an average price target of $638.08, and recently beat quarterly earnings and revenue estimates.

Fideuram Asset Management Ireland dac purchased a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,862 shares of the industrial products company's stock, valued at approximately $1,360,000.

A number of other institutional investors have also recently made changes to their positions in DE. Northwestern Mutual Wealth Management Co. lifted its position in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock valued at $932,870,000 after buying an additional 1,893,972 shares during the last quarter. M&T Bank Corp lifted its position in shares of Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock valued at $868,149,000 after buying an additional 1,721,239 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Deere & Company by 278.0% during the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company's stock valued at $223,005,000 after buying an additional 358,687 shares during the last quarter. Invesco Ltd. lifted its position in shares of Deere & Company by 21.7% during the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company's stock valued at $829,930,000 after buying an additional 323,512 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company's stock valued at $2,850,687,000 after buying an additional 322,582 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Deere & Company from $550.00 to $560.00 and gave the company a "neutral" rating in a research report on Friday, May 22nd. Wells Fargo & Company increased their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a report on Friday, February 20th. Weiss Ratings raised Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Truist Financial dropped their price objective on Deere & Company from $793.00 to $759.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group raised Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective on the stock in a report on Wednesday, April 8th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $638.08.

Deere & Company Stock Performance

Shares of DE opened at $542.34 on Friday. The stock's 50-day simple moving average is $572.29 and its 200 day simple moving average is $542.07. The stock has a market capitalization of $146.49 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

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

Deere & Company Announces Dividend

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