Woodline Partners LP Has $10.04 Million Stock Holdings in Deere & Company $DE

Key Points

• Woodline Partners LP increased its stake in Deere & Company by 40%, owning 21,399 shares valued at approximately $10.04 million.
• The latest earnings report revealed that Deere & Company reported $4.75 earnings per share, surpassing analysts' expectations, but its revenue declined 9% year-over-year.
• Deere & Company declared a quarterly dividend of $1.62 per share, which will be paid on November 10th, representing a 1.4% yield.

Woodline Partners LP lifted its stake in Deere & Company (NYSE:DE - Free Report) by 40.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,399 shares of the industrial products company's stock after purchasing an additional 6,118 shares during the quarter. Woodline Partners LP's holdings in Deere & Company were worth $10,044,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC raised its holdings in Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after buying an additional 21 shares during the period. Tyler Stone Wealth Management raised its holdings in Deere & Company by 1.7% during the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after buying an additional 21 shares during the period. Sunbelt Securities Inc. raised its holdings in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock worth $434,000 after buying an additional 22 shares during the period. Hayek Kallen Investment Management raised its holdings in Deere & Company by 1.7% during the 1st quarter. Hayek Kallen Investment Management now owns 1,299 shares of the industrial products company's stock worth $610,000 after buying an additional 22 shares during the period. Finally, First Bancorp Inc ME raised its holdings in Deere & Company by 4.7% during the 1st quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on DE. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Robert W. Baird cut their price objective on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Bank of America boosted their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, September 5th. Finally, Truist Financial lowered their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $520.87.

Deere & Company Stock Up 1.0%

Shares of Deere & Company stock opened at $476.24 on Friday. The stock has a market capitalization of $128.74 billion, a P/E ratio of 24.89, a PEG ratio of 3.03 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a 50 day moving average price of $498.30 and a two-hundred day moving average price of $490.35. Deere & Company has a 12-month low of $383.10 and a 12-month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The firm 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 company's revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.29 earnings per share. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Deere & Company 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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