Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys 5,058 Shares of Deere & Company $DE

Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its stake in Deere & Company (NYSE:DE) by 44.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,478 shares of the industrial products company’s stock after purchasing an additional 5,058 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Deere & Company were worth $9,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Deere & Company by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock worth $10,514,053,000 after purchasing an additional 198,332 shares during the period. State Street Corp raised its stake in Deere & Company by 0.9% in the fourth quarter. State Street Corp now owns 10,485,949 shares of the industrial products company’s stock valued at $4,898,717,000 after buying an additional 97,049 shares during the period. Capital World Investors lifted its position in shares of Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after buying an additional 3,358,264 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Deere & Company by 2.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,692,877 shares of the industrial products company’s stock worth $3,581,574,000 after acquiring an additional 158,584 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Deere & Company by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 5,600,552 shares of the industrial products company’s stock worth $2,609,149,000 after acquiring an additional 17,269 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $621.09 on Friday. The firm has a market cap of $167.66 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock’s fifty day moving average price is $577.59 and its two-hundred day moving average price is $562.28. Deere & Company has a one year low of $433.00 and a one year high of $674.19.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $6.64 EPS. As a group, research analysts expect that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Announces Dividend

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 given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company’s dividend payout ratio is currently 36.71%.

Wall Street Analyst Weigh In

A number of research firms have commented on DE. Citigroup reduced their price objective on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Bank of America dropped their price objective on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Barclays raised their target price on shares of Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Finally, DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $642.23.

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.