Zurich Insurance Group Ltd FI Invests $101.53 Million in Deere & Company $DE

Key Points

• Zurich Insurance Group Ltd FI acquired a new stake in Deere & Company, purchasing 216,312 shares valued at approximately $101.5 million, representing about 0.08% ownership of the company.
• Deere & Company reported an earnings per share of $4.75 for the most recent quarter, exceeding estimates by $0.13, although revenue declined 9% year-over-year.
• The company announced a quarterly dividend of $1.62, with a dividend yield of 1.3% and a payout ratio of 33.87%.

Zurich Insurance Group Ltd FI acquired a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 216,312 shares of the industrial products company's stock, valued at approximately $101,526,000. Zurich Insurance Group Ltd FI owned 0.08% of Deere & Company as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in DE. Activest Wealth Management increased its holdings in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new position in Deere & Company during the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC increased its holdings in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the period. Orion Capital Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $34,000. Finally, Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the 4th quarter valued at about $39,000. Institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DE. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Raymond James Financial lifted their price objective on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Finally, DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. One research 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's stock. According to data from MarketBeat, Deere & Company has an average rating of "Moderate Buy" and a consensus price target of $520.87.

Deere & Company Trading Down 1.1%

DE traded down $5.11 on Friday, hitting $471.35. The company had a trading volume of 1,764,539 shares, compared to its average volume of 1,361,193. The company has a market cap of $127.42 billion, a PE ratio of 24.64, a PEG ratio of 3.03 and a beta of 1.00. Deere & Company has a 12-month low of $386.42 and a 12-month high of $533.78. 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 business's fifty day simple moving average is $498.30 and its 200 day simple moving average is $490.35.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 earnings per share. Equities research analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders 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 dividend yield of 1.4%. Deere & Company's dividend payout ratio is presently 33.87%.

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.