Ieq Capital LLC Buys 751 Shares of Deere & Company (NYSE:DE)

Ieq Capital LLC increased its stake in shares of Deere & Company (NYSE:DE) by 5.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,345 shares of the industrial products company’s stock after acquiring an additional 751 shares during the period. Ieq Capital LLC’s holdings in Deere & Company were worth $5,733,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of DE. Vanguard Group Inc. raised its stake in shares of Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares during the last quarter. Parnassus Investments LLC raised its position in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after acquiring an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Deere & Company by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after acquiring an additional 150,713 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. cut their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Truist Financial reissued a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Finally, Evercore ISI upped their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Fourteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $409.88.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $405.89 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. 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. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46. The company has a 50-day simple moving average of $376.24 and a two-hundred day simple moving average of $382.66.

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

Deere & Company Announces Dividend

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

Deere & Company 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.