Korea Investment CORP lowered its position in Deere & Company (NYSE:DE) by 45.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 164,026 shares of the industrial products company’s stock after selling 137,500 shares during the period. Korea Investment CORP owned approximately 0.05% of Deere & Company worth $22,931,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Mount Yale Investment Advisors LLC acquired a new stake in Deere & Company in the 1st quarter worth approximately $100,000. Kaizen Advisory LLC boosted its stake in Deere & Company by 158.4% in the 2nd quarter. Kaizen Advisory LLC now owns 796 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 488 shares in the last quarter. Winthrop Partners WNY LLC acquired a new stake in Deere & Company in the 1st quarter worth approximately $114,000. Clarus Wealth Advisors acquired a new stake in Deere & Company in the 2nd quarter worth approximately $118,000. Finally, Sun Life Financial INC boosted its stake in Deere & Company by 283.8% in the 2nd quarter. Sun Life Financial INC now owns 879 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 650 shares in the last quarter. 66.08% of the stock is currently owned by hedge funds and other institutional investors.
DE opened at $145.10 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 2.59. Deere & Company has a 1 year low of $114.76 and a 1 year high of $175.26. The firm has a market capitalization of $46.60 billion, a P/E ratio of 21.72, a PEG ratio of 2.69 and a beta of 0.86.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 17th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.16). Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.18 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. equities research analysts forecast that Deere & Company will post 9.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Friday, September 28th will be paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, September 27th. Deere & Company’s dividend payout ratio is currently 41.32%.
A number of analysts recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Deere & Company from $193.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, August 20th. UBS Group lowered their target price on shares of Deere & Company from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Deutsche Bank set a $155.00 price objective on shares of Deere & Company and gave the company a “hold” rating in a research note on Wednesday. Wells Fargo & Co decreased their price objective on shares of Deere & Company from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 20th. Finally, OTR Global cut shares of Deere & Company to a “$139.21” rating in a research note on Wednesday, July 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $177.75.
About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
Further Reading: Fundamental Analysis
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