Vanguard Group Inc. Acquires 198,332 Shares of Deere & Company $DE

Key Points

• Vanguard increased its stake in Deere & Company by 198,332 shares in Q4, bringing its total to 22,583,185 shares (about 8.33% of the company) valued at roughly $10.51 billion.
• Deere beat quarterly expectations with EPS of $2.42 vs. $1.90 and revenue of $9.61 billion (up 17.5% YoY); analysts rate the stock a "Moderate Buy" with an average price target of $655.45.
• Deere declared a quarterly dividend of $1.62 per share (annualized $6.48) with an ex-dividend/record date of March 31 and a May 8 payment, implying a yield of about 1.2%.

Vanguard Group Inc. grew its holdings in Deere & Company (NYSE:DE - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,583,185 shares of the industrial products company's stock after purchasing an additional 198,332 shares during the period. Vanguard Group Inc. owned approximately 8.33% of Deere & Company worth $10,514,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Strategic Advocates LLC acquired a new position in Deere & Company in the 3rd quarter worth about $25,000. Key Capital Management INC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $27,000. Activest Wealth Management grew its position in shares of Deere & Company by 69.2% in the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock valued at $30,000 after buying an additional 27 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. Finally, United Community Bank grew its position in shares of Deere & Company by 67.3% in the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company's stock valued at $42,000 after buying an additional 37 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 5.0%

DE stock opened at $562.54 on Friday. The stock's 50 day simple moving average is $593.61 and its 200 day simple moving average is $526.10. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The company has a market cap of $151.95 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.07 and a beta of 0.98.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same period in the prior year, the business earned $3.19 EPS. The firm's revenue for the quarter was up 17.5% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 18.01 earnings per share for the current fiscal 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 paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Deere & Company's dividend payout ratio is 36.53%.

Analyst Ratings Changes

A number of equities research analysts have commented on DE shares. Robert W. Baird reduced their price target on Deere & Company from $675.00 to $580.00 and set a "neutral" rating on the stock in a research report on Thursday, April 2nd. Royal Bank Of Canada upped their price target on Deere & Company from $541.00 to $736.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. Argus upped their price target on Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $765.00 price target on shares of Deere & Company in a research report on Monday, February 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $655.45.

About Deere & Company

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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