Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management Makes New Investment in Deere & Company (NYSE:DE)

Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new position in Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,200 shares of the industrial products company's stock, valued at approximately $4,787,000. Deere & Company comprises 0.8% of Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management's investment portfolio, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Norges Bank bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $1,244,094,000. GAMMA Investing LLC increased its position in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Deere & Company during the 4th quarter valued at $541,437,000. Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Finally, FMR LLC boosted its position in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Trading Up 0.2%

Shares of Deere & Company stock traded up $0.81 during trading on Friday, hitting $499.95. The stock had a trading volume of 1,064,545 shares, compared to its average volume of 1,342,613. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $135.40 billion, a PE ratio of 24.19, a P/E/G ratio of 3.16 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 has a 50 day simple moving average of $512.70 and a 200 day simple moving average of $480.12.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) 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 the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The company's revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 EPS. On average, research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm 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 $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.30%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. DA Davidson restated a "buy" rating and set a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. Bank of America upped their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $515.50.

About Deere & Company

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.