Deere & Company $DE Shares Bought by Capital Research Global Investors

Capital Research Global Investors grew its holdings in Deere & Company (NYSE:DE) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,707 shares of the industrial products company’s stock after purchasing an additional 1,214 shares during the period. Capital Research Global Investors owned approximately 0.05% of Deere & Company worth $66,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Sarl raised its position in Deere & Company by 229.0% during the fourth quarter. Capital International Sarl now owns 75,298 shares of the industrial products company’s stock valued at $35,056,000 after buying an additional 52,410 shares during the period. Capital International Ltd. CA raised its position in Deere & Company by 256.1% during the fourth quarter. Capital International Ltd. CA now owns 39,708 shares of the industrial products company’s stock valued at $18,487,000 after buying an additional 28,558 shares during the period. Capital International Inc. CA raised its position in Deere & Company by 106.2% during the fourth quarter. Capital International Inc. CA now owns 111,758 shares of the industrial products company’s stock valued at $52,031,000 after buying an additional 57,560 shares during the period. Capital Group Investment Management PTE. LTD. raised its position in Deere & Company by 260.9% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 8,668 shares of the industrial products company’s stock valued at $4,036,000 after buying an additional 6,266 shares during the period. Finally, Modus Advisors LLC acquired a new position in Deere & Company during the fourth quarter valued at $190,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $578.07 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The business has a fifty day simple moving average of $572.93 and a 200 day simple moving average of $547.52. The firm has a market cap of $156.04 billion, a price-to-earnings ratio of 32.75, a P/E/G ratio of 2.13 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) 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 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 company earned $6.64 earnings per share. Deere & Company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 18.1 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

DE has been the topic of several recent analyst reports. Raymond James Financial dropped their price target on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Morgan Stanley upped their price target on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Wolfe Research upped their price target on Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Robert W. Baird dropped their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company 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.