Alight Capital Management LP Makes New Investment in Deere & Company $DE

Alight Capital Management LP purchased a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 20,000 shares of the industrial products company’s stock, valued at approximately $9,311,000. Deere & Company comprises approximately 2.4% of Alight Capital Management LP’s investment portfolio, making the stock its 13th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Deere & Company by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after purchasing an additional 198,332 shares during the last quarter. State Street Corp grew its holdings in Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock worth $4,898,717,000 after purchasing an additional 97,049 shares during the last quarter. Capital World Investors grew its holdings in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 2.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after purchasing an additional 158,584 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Deere & Company by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after purchasing an additional 17,269 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $680.00 price target (down from $715.00) on shares of Deere & Company in a report on Wednesday, May 27th. Wells Fargo & Company lifted their price objective on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Morgan Stanley lifted their price objective on shares of Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Truist Financial lowered their price objective on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Finally, Argus lifted their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Trading Up 0.7%

NYSE:DE opened at $589.13 on Thursday. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm has a fifty day simple moving average of $573.78 and a 200-day simple moving average of $551.52. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $159.03 billion, a P/E ratio of 33.38, a PEG ratio of 2.17 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted 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. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.64 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

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

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.