SCS Capital Management LLC Acquires Shares of 724 Deere & Company $DE

Key Points

• SCS Capital Management LLC acquired 724 shares of Deere & Company valued at approximately $340,000 during the first quarter, contributing to institutional investors owning 68.58% of the stock.
• Deere & Company reported a $4.75 EPS for the last quarter, exceeding the consensus estimate, despite a 9% year-over-year revenue decline.
• The company is set to pay a quarterly dividend of $1.62 per share on November 10th, with a 1.4% yield and a payout ratio of 33.87%.

SCS Capital Management LLC acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 724 shares of the industrial products company's stock, valued at approximately $340,000.

A number of other large investors have also recently made changes to their positions in DE. GAMMA Investing LLC lifted its stake in shares of Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after buying an additional 1,750,163 shares in the last quarter. Nuveen LLC bought a new position in shares of Deere & Company in the first quarter valued at $571,073,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Deere & Company in the fourth quarter valued at $149,057,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after buying an additional 286,253 shares in the last quarter. Finally, Sarasin & Partners LLP lifted its stake in shares of Deere & Company by 50.4% in the first quarter. Sarasin & Partners LLP now owns 771,866 shares of the industrial products company's stock valued at $362,275,000 after buying an additional 258,522 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Bank of America raised their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Citigroup dropped their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, Barclays raised their price target on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of "Moderate Buy" and an average price target of $520.87.

Deere & Company Price Performance

DE opened at $476.24 on Friday. The firm has a 50-day moving average price of $498.30 and a 200-day moving average price of $490.35. The company has a market capitalization of $128.74 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 3.03 and a beta of 1.00. Deere & Company has a twelve month low of $383.10 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.29 earnings per share. Equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

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

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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