ING Groep NV Grows Stock Position in Deere & Company $DE

ING Groep NV increased its holdings in shares of Deere & Company (NYSE:DE) by 275.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,791 shares of the industrial products company’s stock after buying an additional 62,948 shares during the quarter. ING Groep NV’s holdings in Deere & Company were worth $39,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Cary Street Partners Financial LLC increased its stake in Deere & Company by 11.8% during the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 1,086 shares during the last quarter. Spectrum Financial Alliance Ltd LLC increased its stake in Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after acquiring an additional 30,553 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in Deere & Company by 66.1% during the third quarter. Compagnie Lombard Odier SCmA now owns 27,568 shares of the industrial products company’s stock worth $12,606,000 after acquiring an additional 10,974 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Deere & Company by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 21,174 shares of the industrial products company’s stock worth $9,682,000 after acquiring an additional 2,702 shares during the last quarter. Finally, Westpac Banking Corp increased its stake in Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after acquiring an additional 3,047 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.3%

NYSE:DE opened at $583.80 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The business’s 50-day simple moving average is $572.86 and its 200 day simple moving average is $545.60. The stock has a market cap of $157.59 billion, a price-to-earnings ratio of 33.08, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 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 for the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the firm posted $6.64 earnings per share. The company’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 18.08 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 $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Analyst Upgrades and Downgrades

DE has been the subject of several research analyst reports. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. BMO Capital Markets upped their target price on Deere & Company from $460.00 to $500.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.