Sei Investments Co. Has $72.07 Million Holdings in Deere & Company (NYSE:DE)

Key Points

• Sei Investments Co. increased its stake in Deere & Company by 3.8% in the first quarter, owning 168,329 shares valued at approximately $72.07 million.
• Several institutional investors, including Assenagon Asset Management, also made significant changes to their holdings in Deere, indicating a strong interest among large investors.
• Deere & Company reported an EPS of $4.75 for the last quarter, exceeding analysts' expectations, despite a year-over-year decline from $6.29 EPS in the same period last year.

Sei Investments Co. raised its holdings in Deere & Company (NYSE:DE - Free Report) by 3.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,329 shares of the industrial products company's stock after buying an additional 6,184 shares during the quarter. Sei Investments Co. owned 0.06% of Deere & Company worth $72,074,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DE. GAMMA Investing LLC lifted its position in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after acquiring an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $541,437,000. Nuveen LLC bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $571,073,000. Price T Rowe Associates Inc. MD lifted its position in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Finally, Leigh Baldwin & CO. LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $255,686,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. DA Davidson reiterated a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Raymond James Financial raised their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Evercore ISI raised their target price on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday, May 19th. Finally, Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average price target of $521.47.

Deere & Company Trading Up 2.1%

Shares of NYSE DE traded up $9.84 during midday trading on Friday, hitting $488.68. The stock had a trading volume of 2,673,758 shares, compared to its average volume of 1,318,860. The company's 50-day simple moving average is $511.18 and its 200 day simple moving average is $489.97. The firm has a market cap of $132.35 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06. Deere & Company has a fifty-two week low of $371.16 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results 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 return on equity of 21.97% and a net margin of 11.72%. The business's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the firm earned $6.29 EPS. Research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is 31.35%.

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.