Sarasin & Partners LLP Increases Position in Deere & Company (NYSE:DE)

Sarasin & Partners LLP increased its stake in shares of Deere & Company (NYSE:DE - Free Report) by 50.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 771,866 shares of the industrial products company's stock after purchasing an additional 258,522 shares during the quarter. Deere & Company accounts for 3.6% of Sarasin & Partners LLP's holdings, making the stock its 13th biggest holding. Sarasin & Partners LLP owned approximately 0.28% of Deere & Company worth $362,275,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Pineridge Advisors LLC lifted its holdings in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after buying an additional 26 shares during the period. YANKCOM Partnership purchased a new stake in shares of Deere & Company in the 4th quarter worth $34,000. Orion Capital Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the 4th quarter worth $39,000. Finally, Dogwood Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $42,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Up 1.2%

Shares of NYSE DE traded up $5.99 during trading on Thursday, reaching $513.77. The stock had a trading volume of 486,128 shares, compared to its average volume of 1,393,569. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The business's 50-day moving average price is $477.57 and its 200-day moving average price is $464.39. The company has a market cap of $139.44 billion, a P/E ratio of 22.77, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. During the same period in the previous year, the firm posted $8.53 earnings per share. The company's revenue was down 17.9% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. Deere & Company's payout ratio is presently 31.35%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. BMO Capital Markets reaffirmed a "market perform" rating and set a $460.00 target price (up from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Argus set a $510.00 target price on Deere & Company in a report on Friday, March 7th. Citigroup dropped their target price on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Baird R W lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $515.19.

About Deere & Company

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.