Arrowstreet Capital Limited Partnership Has $100.40 Million Stock Holdings in Deere & Company $DE

Arrowstreet Capital Limited Partnership raised its holdings in Deere & Company (NYSE:DE) by 26.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,651 shares of the industrial products company’s stock after buying an additional 45,524 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.08% of Deere & Company worth $100,401,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Strategic Advocates LLC bought a new position in shares of Deere & Company during the third quarter worth approximately $25,000. Key Capital Management INC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $27,000. Timmons Wealth Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $29,000. McIlrath & Eck LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of Deere & Company during the 3rd quarter valued at $32,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DE shares. Sanford C. Bernstein lifted their target price on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a report on Friday, February 20th. Robert W. Baird decreased their price objective on Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Wolfe Research boosted their target price on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Truist Financial dropped their price objective on Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research note on Tuesday, May 26th. Finally, DA Davidson dropped their target price on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Performance

Shares of DE opened at $575.87 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a 50-day simple moving average of $573.28 and a two-hundred day simple moving average of $549.86. The firm has a market capitalization of $155.45 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same period last year, the business posted $6.64 earnings per share. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

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.