Slow Capital Inc. Boosts Stake in Deere & Company $DE

Slow Capital Inc. lifted its holdings in shares of Deere & Company (NYSE:DE) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,739 shares of the industrial products company’s stock after buying an additional 340 shares during the period. Deere & Company makes up 0.9% of Slow Capital Inc.’s portfolio, making the stock its 27th biggest position. Slow Capital Inc.’s holdings in Deere & Company were worth $7,499,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Deere & Company in the first quarter worth approximately $571,073,000. Voya Investment Management LLC lifted its position in Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after purchasing an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. Invesco Ltd. boosted its holdings in Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Deere & Company by 874.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after purchasing an additional 218,893 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research reports. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Truist Financial cut their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Wolfe Research lowered their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 2nd. Finally, Daiwa Capital Markets cut their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $518.18.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $457.47 on Tuesday. The stock has a market cap of $123.67 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.98 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock’s fifty day moving average is $483.57 and its 200 day moving average is $489.14. Deere & Company has a one year low of $387.03 and a one year high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.29 earnings per share. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s payout ratio is 33.87%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.