Geode Capital Management LLC Boosts Holdings in Deere & Company $DE

Geode Capital Management LLC increased its position in shares of Deere & Company (NYSE:DE) by 2.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,541,778 shares of the industrial products company’s stock after buying an additional 111,627 shares during the quarter. Geode Capital Management LLC owned about 2.05% of Deere & Company worth $2,810,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Nuveen LLC acquired a new stake in shares of Deere & Company during the first quarter valued at about $571,073,000. TD Asset Management Inc lifted its stake in Deere & Company by 132.0% during the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after acquiring an additional 410,636 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after acquiring an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD grew its position in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. increased its stake in 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 purchasing an additional 256,806 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.7%

Shares of Deere & Company stock opened at $477.70 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a fifty day simple moving average of $465.79 and a 200-day simple moving average of $490.77. The stock has a market cap of $129.14 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.05 and a beta of 1.04. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share 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 analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $6.29 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, November 5th. JPMorgan Chase & Co. lowered their target price on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Robert W. Baird lowered their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, UBS Group reiterated a “buy” rating on shares of Deere & Company in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target 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.