Desjardins Global Asset Management Inc. Grows Holdings in Deere & Company (NYSE:DE)

Desjardins Global Asset Management Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 20.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,835 shares of the industrial products company’s stock after acquiring an additional 314 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Deere & Company were worth $734,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. RB Capital Management LLC increased its position in shares of Deere & Company by 5.2% during the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP purchased a new position in shares of Deere & Company in the first quarter worth about $14,541,000. Retirement Income Solutions Inc acquired a new position in Deere & Company during the first quarter worth about $229,000. Sequoia Financial Advisors LLC grew its stake in Deere & Company by 27.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after acquiring an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after acquiring an additional 27,985 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 1.0 %

DE opened at $397.01 on Thursday. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $385.17 and a 200-day simple moving average of $382.66. The firm has a market cap of $110.51 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the business posted $6.55 EPS. On average, equities analysts expect that Deere & Company will post 27.39 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.12%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DE shares. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Wells Fargo & Company reduced their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Evercore ISI raised their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.