Wellington Management Group LLP Has $1.96 Billion Holdings in Deere & Company $DE

Key Points

• Wellington Management increased its Deere & Company stake by 84.3% in the second quarter, purchasing 1.41 million additional shares and bringing its holdings to 3.09 million shares valued at approximately $1.96 billion.
• Deere reported quarterly EPS of $5.10, exceeding the $4.69 consensus estimate, while revenue rose 6.2% year over year to $12.61 billion. The company also declared a $1.62 quarterly dividend, representing a 1.0% yield.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $653.48; shares recently opened at $630.66.

Wellington Management Group LLP lifted its holdings in Deere & Company (NYSE:DE - Free Report) by 84.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,088,628 shares of the industrial products company's stock after purchasing an additional 1,412,694 shares during the quarter. Wellington Management Group LLP owned 1.14% of Deere & Company worth $1,959,209,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Deere & Company in the 2nd quarter valued at $27,000. Kilter Group LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth about $29,000. Timmons Wealth Management LLC acquired a new position in shares of Deere & Company during the 4th quarter worth about $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the 4th quarter valued at about $30,000. Finally, Solstein Capital LLC bought a new position in shares of Deere & Company in the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 1.3%

Deere & Company stock opened at $630.66 on Friday. The firm has a market capitalization of $170.24 billion, a PE ratio of 35.04, a P/E/G ratio of 2.57 and a beta of 0.90. The company's 50-day moving average is $611.59 and its 200-day moving average is $593.34. 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 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion for the quarter, compared to analysts' expectations of $10.81 billion. During the same period in the prior year, the firm earned $4.75 EPS. Deere & Company's quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company's payout ratio is presently 36.00%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Robert W. Baird upped their target price on Deere & Company from $525.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Barclays raised their price target on Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a research note on Monday. DA Davidson boosted their price target on Deere & Company from $685.00 to $760.00 and gave the stock a "buy" rating in a research report on Monday, August 24th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $570.00 to $585.00 and gave the stock a "neutral" rating in a research report on Friday, August 21st. Finally, Seaport Research Partners set a $570.00 price objective on Deere & Company in a research note on Friday, August 14th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $653.48.

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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