Fullerton Fund Management Co Ltd. Makes New $805,000 Investment in Deere & Company $DE

Fullerton Fund Management Co Ltd. bought a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,730 shares of the industrial products company’s stock, valued at approximately $805,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Advocates LLC bought a new position in Deere & Company during the third quarter worth about $25,000. Key Capital Management INC bought a new position in Deere & Company during the fourth quarter worth about $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company during the fourth quarter worth about $29,000. McIlrath & Eck LLC bought a new position in Deere & Company during the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC bought a new position in Deere & Company during the third quarter worth about $32,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.9%

Deere & Company stock opened at $586.43 on Wednesday. The firm has a market capitalization of $158.30 billion, a PE ratio of 33.23, a P/E/G ratio of 2.13 and a beta of 0.92. The company’s 50-day moving average is $573.50 and its 200-day moving average is $550.68. 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 1.54, a current ratio of 2.18 and a quick ratio of 1.95.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.64 EPS. Sell-side analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid 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 is currently 36.71%.

Analyst Ratings Changes

Several research analysts have weighed in on DE shares. JPMorgan Chase & Co. lifted their target price on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Sanford C. Bernstein upped their price objective on Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Morgan Stanley upped their price objective on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Wells Fargo & Company upped their price objective on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $639.58.

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.