Robeco Institutional Asset Management B.V. Increases Stake in Deere & Company $DE

Key Points

• Robeco Institutional Asset Management B.V. significantly increased its stake in Deere & Company by 874.8%, acquiring an additional 218,893 shares during the second quarter, bringing its total ownership to approximately $124 million.
• Despite a revenue decline of 9.0% year-over-year, Deere & Company reported $4.75 EPS in its latest earnings, surpassing analysts' estimates.
• A quarterly dividend of $1.62 per share was declared, representing an annualized yield of 1.4%, with the payout ratio currently at 33.87%.

Robeco Institutional Asset Management B.V. raised its stake in Deere & Company (NYSE:DE - Free Report) by 874.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 243,914 shares of the industrial products company's stock after acquiring an additional 218,893 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.09% of Deere & Company worth $124,028,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nuveen LLC purchased a new stake in shares of Deere & Company during the 1st quarter valued at about $571,073,000. Voya Investment Management LLC raised its stake in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company's stock valued at $344,442,000 after acquiring an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after buying an additional 286,253 shares during the period. Invesco Ltd. grew its holdings in Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock worth $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Deere & Company during the first quarter valued at approximately $101,526,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $461.88 on Friday. Deere & Company has a twelve month low of $387.03 and a twelve month 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. The company has a market cap of $124.86 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03. The company's 50 day moving average is $485.74 and its 200 day moving average is $489.22.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm earned $6.29 EPS. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Robert W. Baird decreased their price objective on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, September 26th. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $518.06.

Deere & 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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