Capital Group Investment Management PTE. LTD. Has $4.04 Million Holdings in Deere & Company $DE

Capital Group Investment Management PTE. LTD. raised its position in shares of Deere & Company (NYSE:DE) by 260.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,668 shares of the industrial products company’s stock after purchasing an additional 6,266 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Deere & Company were worth $4,036,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DE. Strategic Advocates LLC bought a new position in shares of Deere & Company in the 3rd quarter worth $25,000. Key Capital Management INC bought a new position in shares of Deere & Company in the 4th quarter worth $27,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the 4th quarter worth $30,000. Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Finally, Tucker Asset Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth $34,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.3%

Shares of DE opened at $583.80 on Friday. The business has a 50-day moving average of $572.86 and a 200 day moving average of $545.60. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The firm has a market cap of $157.59 billion, a P/E ratio of 33.08, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the firm posted $6.64 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is presently 36.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DE. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Argus raised their price objective on Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Oppenheimer restated an “outperform” rating and set a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. UBS Group raised their price objective on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $639.58.

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.