Rokos Capital Management LLP Takes $8.78 Million Position in Deere & Company $DE

Key Points

• Rokos Capital Management acquired 15,586 Deere & Company shares in the first quarter, valued at approximately $8.78 million. Institutional investors collectively own 68.58% of the company.
• Deere reported quarterly earnings of $6.55 per share, beating estimates of $5.70, while revenue reached $13.37 billion and rose 5.4% year over year.
• Deere declared a quarterly dividend of $1.62 per share, or $6.48 annualized, representing a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $642.98.

Rokos Capital Management LLP acquired a new position in Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 15,586 shares of the industrial products company's stock, valued at approximately $8,779,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Anchyra Partners LLC grew its position in Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock worth $1,797,000 after acquiring an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. lifted its position in Deere & Company by 0.6% in the first quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock valued at $1,638,000 after purchasing an additional 17 shares during the last quarter. Advisortrust Partners LLC lifted its position in Deere & Company by 2.0% in the first quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company's stock valued at $515,000 after purchasing an additional 18 shares during the last quarter. Cerro Pacific Wealth Advisors LLC boosted its stake in shares of Deere & Company by 0.6% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company's stock valued at $1,480,000 after purchasing an additional 19 shares during the period. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Deere & Company by 2.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company's stock valued at $379,000 after purchasing an additional 19 shares during the period. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 0.4%

Shares of NYSE:DE opened at $625.37 on Tuesday. The firm has a market capitalization of $168.81 billion, a P/E ratio of 35.43, a P/E/G ratio of 2.65 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock has a 50 day moving average price of $586.26 and a 200-day moving average price of $577.84. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. 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 dividend payout ratio (DPR) is presently 36.71%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Citigroup raised their price target on shares of Deere & Company from $575.00 to $610.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Royal Bank Of Canada restated an "outperform" rating and issued a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. DA Davidson reiterated a "buy" rating and set a $685.00 target price on shares of Deere & Company in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their target price on Deere & Company from $560.00 to $590.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Fourteen 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $642.98.

Deere & 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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