Rockefeller Capital Management L.P. Buys 18,830 Shares of Deere & Company $DE

Rockefeller Capital Management L.P. increased its position in Deere & Company (NYSE:DE) by 24.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,306 shares of the industrial products company’s stock after purchasing an additional 18,830 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Deere & Company were worth $45,304,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DE. Strategic Advocates LLC bought a new position in shares of Deere & Company during the 3rd quarter worth $25,000. Key Capital Management INC purchased a new position in shares of Deere & Company during the fourth quarter valued at $27,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $29,000. McIlrath & Eck LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in Deere & Company in the third quarter worth about $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays raised their target price on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research note on Monday, June 1st. Argus lifted their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. DA Davidson cut their price objective on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, Citigroup reduced their price objective on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $590.37 on Friday. The company has a market capitalization of $159.36 billion, a PE ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92. The company has a 50-day simple moving average of $573.71 and a two-hundred day simple moving average of $552.66. Deere & Company has a one year low of $433.00 and a one year high of $674.19. 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 released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period last year, the business earned $6.64 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced 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. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. 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.