New York Life Investment Management LLC Raises Holdings in Deere & Company $DE

New York Life Investment Management LLC grew its position in shares of Deere & Company (NYSE:DE) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,460 shares of the industrial products company’s stock after purchasing an additional 450 shares during the quarter. New York Life Investment Management LLC’s holdings in Deere & Company were worth $17,523,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Deere & Company during the first quarter worth about $571,073,000. TD Asset Management Inc boosted its stake in shares of Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after buying an additional 410,636 shares during the period. Voya Investment Management LLC boosted its stake in shares of 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 worth $344,442,000 after buying an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Deere & Company by 4.3% during 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 buying an additional 286,253 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after buying an additional 256,806 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $477.76 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a market cap of $129.15 billion, a P/E ratio of 24.97, a PEG ratio of 3.04 and a beta of 1.02. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a 50-day moving average price of $469.62 and a 200 day moving average price of $489.44.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 earnings per share. Research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DE shares. Wolfe Research decreased their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Daiwa Capital Markets decreased their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Royal Bank Of Canada started coverage on shares of Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price for the company. Oppenheimer decreased their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Finally, DA Davidson decreased their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Company Profile

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.