Partners Capital Investment Group LLP Buys 10,946 Shares of Deere & Company $DE

Key Points

• Partners Capital Investment Group LLP increased its stake in Deere & Company by 94.9%, acquiring an additional 10,946 shares, bringing their total holdings to 22,477 shares worth approximately $10.55 million.
• Analysts have mixed ratings for DE, with one analyst giving it a "Strong Buy" rating, while recent price targets have ranged from $488 to $556.
• Deere & Company reported earnings of $4.75 per share, exceeding analysts' expectations, but noted a 9% decline in quarterly revenue compared to the previous year.

Partners Capital Investment Group LLP lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 94.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,477 shares of the industrial products company's stock after purchasing an additional 10,946 shares during the period. Partners Capital Investment Group LLP's holdings in Deere & Company were worth $10,550,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new stake in Deere & Company in the first quarter valued at $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% during 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 during the last quarter. Orion Capital Management LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company in the 4th quarter valued at about $39,000. Finally, Dogwood Wealth Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $42,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on DE. Robert W. Baird lowered their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Evercore ISI set a $491.00 price target on Deere & Company in a research note on Tuesday. Bank of America lifted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Truist Financial decreased their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $523.87.

Deere & Company Stock Performance

NYSE:DE opened at $492.4310 on Thursday. The stock has a 50 day simple moving average of $509.47 and a 200 day simple moving average of $490.15. The stock has a market cap of $133.37 billion, a P/E ratio of 25.74, a PEG ratio of 3.13 and a beta of 1.06. Deere & Company has a 1-year low of $372.12 and a 1-year high of $533.78. 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 (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the business earned $6.29 EPS. The company's quarterly revenue was down 9.0% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were paid a $1.62 dividend. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's payout ratio is 33.87%.

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.