Ninety One UK Ltd Invests $51.79 Million in Deere & Company $DE

Key Points

• Ninety One UK Ltd invested approximately $51.79 million in Deere & Company, purchasing 101,841 shares in the 2nd quarter.
• Deere & Company reported a $4.75 EPS for the last quarter, exceeding estimates and had a revenue of $10.36 billion, down 9% year-over-year.
• The company declared a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, payable on November 10th.

Ninety One UK Ltd purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 101,841 shares of the industrial products company's stock, valued at approximately $51,785,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after buying an additional 1,278 shares during the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of Deere & Company by 5.8% in the 1st quarter. Baker Tilly Wealth Management LLC now owns 672 shares of the industrial products company's stock worth $315,000 after acquiring an additional 37 shares in the last quarter. Fiduciary Alliance LLC raised its position in shares of Deere & Company by 4.1% in the 1st quarter. Fiduciary Alliance LLC now owns 1,506 shares of the industrial products company's stock worth $707,000 after acquiring an additional 59 shares in the last quarter. Fragasso Financial Advisors Inc increased its holdings in Deere & Company by 4.8% in the first quarter. Fragasso Financial Advisors Inc now owns 1,080 shares of the industrial products company's stock worth $507,000 after purchasing an additional 49 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its holdings in Deere & Company by 2.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,475 shares of the industrial products company's stock worth $692,000 after purchasing an additional 35 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE stock opened at $456.78 on Wednesday. The firm has a market capitalization of $123.48 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00. The firm has a fifty day simple moving average of $488.06 and a two-hundred day simple moving average of $489.62. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.29 EPS. Analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is currently 33.87%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research analyst reports. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Daiwa Capital Markets lowered their price objective on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Finally, Robert W. Baird decreased their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and a consensus target price of $518.06.

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.

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