Natixis Advisors LLC Boosts Holdings in Deere & Company (NYSE:DE)

Key Points

• Natixis Advisors LLC increased its stake in Deere & Company by 39.4% in Q1, now holding 308,009 shares valued at approximately $144.57 million.
• Several institutional investors have significantly boosted their holdings in Deere & Company, with Price T. Rowe Associates increasing its shares by 19.9% and owning over $2.7 billion in stock.
• Deere & Company reported a quarterly EPS of $6.64, exceeding estimates, but experienced a revenue decline of 17.9% compared to the previous year.

Natixis Advisors LLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 39.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,009 shares of the industrial products company's stock after acquiring an additional 87,091 shares during the period. Natixis Advisors LLC owned about 0.11% of Deere & Company worth $144,565,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Hughes Financial Services LLC bought a new stake in Deere & Company in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC grew its position in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Orion Capital Management LLC bought a new stake in Deere & Company in the 4th quarter worth about $34,000. Mascagni Wealth Management Inc. bought a new stake in Deere & Company in the 4th quarter worth about $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in Deere & Company in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

DE traded up $16.31 on Thursday, hitting $524.18. The company's stock had a trading volume of 1,549,282 shares, compared to its average volume of 1,018,595. The company's 50 day simple moving average is $512.43 and its 200-day simple moving average is $486.52. The firm has a market cap of $141.96 billion, a P/E ratio of 25.36, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during 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%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period last year, the firm earned $8.53 EPS. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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 issued a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.2%. Deere & Company's dividend payout ratio (DPR) is 31.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DE. Truist Financial upped their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Raymond James Financial increased their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Barclays increased their target price on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $515.50.

Deere & Company Company Profile

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.