Temasek Holdings Private Ltd Takes $48.67 Million Position in Deere & Company $DE

Key Points

• Temasek Holdings opened a new position in Deere, acquiring 106,435 shares valued at about $48.67 million in the third quarter, according to its latest 13F filing.
• Deere beat quarterly expectations (EPS $2.42 vs. $1.90; revenue $9.61B, up 17.5% YoY), and Wall Street is broadly bullish with an average rating of “Moderate Buy” and an average price target of $644.70 (several firms have raised targets as high as $775).

Temasek Holdings Private Ltd acquired a new position in Deere & Company (NYSE:DE - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 106,435 shares of the industrial products company's stock, valued at approximately $48,668,000.

Several other institutional investors have also modified their holdings of the company. Bouchey Financial Group Ltd grew its holdings in Deere & Company by 4.4% during the third quarter. Bouchey Financial Group Ltd now owns 500 shares of the industrial products company's stock worth $229,000 after acquiring an additional 21 shares during the period. Silvant Capital Management LLC raised its position in Deere & Company by 0.5% in the third quarter. Silvant Capital Management LLC now owns 4,449 shares of the industrial products company's stock worth $2,034,000 after acquiring an additional 21 shares in the last quarter. Blue Chip Partners LLC lifted its holdings in Deere & Company by 1.4% in the 2nd quarter. Blue Chip Partners LLC now owns 1,574 shares of the industrial products company's stock valued at $801,000 after acquiring an additional 21 shares during the last quarter. TRUE Private Wealth Advisors lifted its holdings in Deere & Company by 3.0% in the 2nd quarter. TRUE Private Wealth Advisors now owns 744 shares of the industrial products company's stock valued at $378,000 after acquiring an additional 22 shares during the last quarter. Finally, Forefront Wealth Partners LLC boosted its position in shares of Deere & Company by 4.1% during the 3rd quarter. Forefront Wealth Partners LLC now owns 564 shares of the industrial products company's stock valued at $258,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DE shares. Daiwa Securities Group lowered their price objective on shares of Deere & Company from $530.00 to $520.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 2nd. Royal Bank Of Canada raised their target price on shares of Deere & Company from $541.00 to $736.00 and gave the stock an "outperform" rating in a report on Friday, February 20th. Evercore restated a "positive" rating on shares of Deere & Company in a research report on Friday, November 28th. Morgan Stanley upped their price target on Deere & Company from $560.00 to $730.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Finally, UBS Group increased their price objective on Deere & Company from $535.00 to $775.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $644.70.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 12,000 shares of the business's stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $510.00, for a total transaction of $6,120,000.00. Following the sale, the insider directly owned 20,792 shares of the company's stock, valued at $10,603,920. The trade was a 36.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John C. May II sold 41,472 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $501.49, for a total value of $20,797,793.28. Following the completion of the sale, the chief executive officer owned 117,970 shares of the company's stock, valued at $59,160,775.30. The trade was a 26.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.29% of the company's stock.

Deere & Company Price Performance

NYSE DE opened at $577.42 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. Deere & Company has a 1 year low of $404.42 and a 1 year high of $674.19. The company has a market cap of $155.97 billion, a PE ratio of 32.55, a PEG ratio of 2.05 and a beta of 0.96. The stock's 50-day moving average price is $564.21 and its two-hundred day moving average price is $502.98.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping the consensus estimate of $1.90 by $0.52. The company had revenue of $9.61 billion during the quarter, compared to analysts' expectations of $7.50 billion. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business's revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the company posted $3.19 earnings per share. On average, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company's dividend payout ratio is 36.53%.

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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