OMERS ADMINISTRATION Corp Has $10.54 Million Stock Position in Deere & Company $DE

Key Points

• OMERS Administration Corp increased its Deere & Company stake by 48.8% in the first quarter, bringing its holdings to 18,712 shares valued at approximately $10.54 million. Institutional investors collectively own 68.58% of Deere’s stock.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and nine Holds giving Deere a consensus “Moderate Buy” rating and an average price target of $642.98.
• Deere exceeded quarterly expectations, reporting $6.55 in earnings per share and $13.37 billion in revenue, while revenue rose 5.4% year over year. The company also declared a quarterly dividend of $1.62 per share, representing a 1.0% yield.

OMERS ADMINISTRATION Corp lifted its position in Deere & Company (NYSE:DE - Free Report) by 48.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,712 shares of the industrial products company's stock after acquiring an additional 6,135 shares during the period. OMERS ADMINISTRATION Corp's holdings in Deere & Company were worth $10,540,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock worth $10,514,053,000 after purchasing an additional 198,332 shares during the period. State Street Corp lifted its holdings in shares of Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company's stock valued at $4,898,717,000 after purchasing an additional 97,049 shares in the last quarter. Capital World Investors boosted its position in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock worth $4,465,906,000 after buying an additional 3,358,264 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company's stock worth $3,581,574,000 after buying an additional 158,584 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Deere & Company by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company's stock valued at $2,609,149,000 after buying an additional 17,269 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Jefferies Financial Group raised Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective for the company in a research note on Wednesday, April 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Bank of America dropped their target price on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a report on Friday, May 22nd. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Sunday, July 5th. Finally, Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $642.98.

Deere & Company Price Performance

Shares of NYSE:DE opened at $628.32 on Monday. The firm has a market cap of $169.61 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 2.65 and a beta of 0.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The business has a fifty day simple moving average of $585.05 and a 200 day simple moving average of $576.86.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts' consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the company posted $6.64 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 18.28 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company's payout ratio is currently 36.71%.

Deere & Company 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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