Janus Henderson Group PLC Has $540.23 Million Stake in Deere & Company $DE

Key Points

• Janus Henderson Group trimmed its Deere stake by 4.5% in the fourth quarter, but still owned 1,160,529 shares valued at about $540.2 million at the end of the period.
• Deere reported strong quarterly results, with EPS of $6.55 and revenue of $13.37 billion, both beating analyst estimates. Revenue rose 5.4% year over year, and the company’s net margin was 10.09%.
• The company announced a quarterly dividend of $1.62 per share, payable August 10, implying an annualized dividend of $6.48 and a yield of about 1.1%. Analysts currently rate the stock a Moderate Buy with a consensus target price of $639.58.

Janus Henderson Group PLC trimmed its stake in Deere & Company (NYSE:DE - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,160,529 shares of the industrial products company's stock after selling 54,235 shares during the period. Janus Henderson Group PLC owned about 0.43% of Deere & Company worth $540,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Brighton Jones LLC increased its holdings in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Schnieders Capital Management LLC. boosted its position in Deere & Company by 7.8% during the second 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 bought a new stake in Deere & Company during the second quarter valued at $2,153,000. NewEdge Advisors LLC boosted its position in Deere & Company by 6.0% during the second 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 Deere & Company by 6.7% during the second 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. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $589.13 on Thursday. The firm's 50-day moving average price is $573.78 and its 200-day moving average price is $551.52. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a market capitalization of $159.03 billion, a P/E ratio of 33.38, a P/E/G ratio of 2.17 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the business earned $6.64 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company's dividend payout ratio is currently 36.71%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DE. BMO Capital Markets upped their price target on shares of Deere & Company from $460.00 to $500.00 and gave the company a "market perform" rating in a research report on Friday, February 20th. Citigroup cut their price target on shares of Deere & Company from $625.00 to $595.00 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. DA Davidson cut their price target on shares of Deere & Company from $775.00 to $685.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Barclays upped their price objective on shares of Deere & Company from $530.00 to $640.00 and gave the company an "overweight" rating in a report on Tuesday, March 31st. Finally, Sanford C. Bernstein upped their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a report on Friday, February 20th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $639.58.

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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