National Pension Service Buys 2,816 Shares of Deere & Company $DE

Key Points

• National Pension Service increased its Deere & Company stake by 2,816 shares, bringing its holdings to 634,248 shares valued at approximately $402.3 million. Institutional investors collectively own 68.58% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $680.73. Recent targets range from $650 to $813, though Wall Street Zen downgraded the stock to “sell.”
• Deere exceeded quarterly expectations, reporting $5.10 in EPS and $12.61 billion in revenue, while revenue rose 6.2% year over year. The company also declared a quarterly dividend of $1.62 per share, equivalent to a 1.0% annual yield.

National Pension Service boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 634,248 shares of the industrial products company's stock after buying an additional 2,816 shares during the quarter. National Pension Service owned approximately 0.24% of Deere & Company worth $402,323,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DE. BlueCrest Capital Management Ltd bought a new position in shares of Deere & Company during the second quarter worth about $1,041,000. Cidel Asset Management Inc. boosted its holdings in Deere & Company by 6.3% in the second quarter. Cidel Asset Management Inc. now owns 2,511 shares of the industrial products company's stock valued at $1,593,000 after acquiring an additional 148 shares during the last quarter. Concorde Asset Management LLC boosted its holdings in Deere & Company by 3.0% in the second quarter. Concorde Asset Management LLC now owns 581 shares of the industrial products company's stock valued at $369,000 after acquiring an additional 17 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its position in Deere & Company by 13.6% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,546 shares of the industrial products company's stock valued at $1,615,000 after purchasing an additional 304 shares during the period. Finally, RFG Advisory LLC increased its position in Deere & Company by 1.0% during the 2nd quarter. RFG Advisory LLC now owns 4,114 shares of the industrial products company's stock valued at $2,610,000 after purchasing an additional 42 shares during the period. Institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a research report on Thursday, August 20th. Citigroup increased their price objective on shares of Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a research report on Friday, August 21st. Royal Bank Of Canada reissued an "outperform" rating and set a $752.00 target price on shares of Deere & Company in a research note on Monday, August 24th. Evercore upgraded shares of Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 target price on the stock in a report on Wednesday, September 2nd. Finally, Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $680.73.

Deere & Company Stock Down 0.5%

DE stock opened at $677.52 on Thursday. The stock's 50 day simple moving average is $622.35 and its 200 day simple moving average is $597.71. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $705.88. 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 company has a market cap of $182.67 billion, a P/E ratio of 37.64, a price-to-earnings-growth ratio of 2.81 and a beta of 0.90.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion during the quarter, compared to analysts' expectations of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $4.75 earnings per share. On average, research analysts expect that Deere & Company will post 18.12 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company's payout ratio is 36.00%.

Deere & Company Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.

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