1832 Asset Management L.P. Boosts Stake in Deere & Company (NYSE:DE)

1832 Asset Management L.P. boosted its holdings in Deere & Company (NYSE:DE) by 3,024.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,525 shares of the industrial products company’s stock after acquiring an additional 100,212 shares during the quarter. 1832 Asset Management L.P.’s holdings in Deere & Company were worth $38,680,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DE. True Wealth Design LLC increased its holdings in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $30,000. Spartan Planning & Wealth Management purchased a new stake in shares of Deere & Company during the 4th quarter worth approximately $33,000. Finally, Core Wealth Advisors Inc. grew its holdings in shares of Deere & Company by 466.7% in the 4th quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 70 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Raymond James started coverage on Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $410.50.

Deere & Company Price Performance

DE stock opened at $405.89 on Monday. The stock has a market capitalization of $111.85 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46. The stock’s fifty day simple moving average is $376.24 and its 200-day simple moving average is $382.88.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the company earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Deere & 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.