Bessemer Group Inc. Has $83.87 Million Stock Position in Deere & Company $DE

Bessemer Group Inc. lowered its holdings in Deere & Company (NYSE:DE) by 26.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 180,146 shares of the industrial products company’s stock after selling 63,901 shares during the quarter. Bessemer Group Inc.’s holdings in Deere & Company were worth $83,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Deere & Company by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company’s stock valued at $10,514,053,000 after buying an additional 198,332 shares during the last quarter. Capital World Investors grew its holdings in Deere & Company by 5.5% in the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company’s stock valued at $2,850,687,000 after buying an additional 322,582 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Deere & Company by 5.5% in the 3rd quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company’s stock valued at $1,244,670,000 after buying an additional 141,790 shares during the last quarter. M&T Bank Corp grew its holdings in Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after buying an additional 1,721,239 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Deere & Company by 21.7% in the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock valued at $829,930,000 after buying an additional 323,512 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $562.12 on Friday. The stock has a 50 day moving average of $580.96 and a two-hundred day moving average of $537.02. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company has a market capitalization of $151.83 billion, a P/E ratio of 31.69, a P/E/G ratio of 2.00 and a beta of 0.96.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter last year, the company earned $3.19 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 18.01 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Tuesday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DE shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $765.00 target price on shares of Deere & Company in a report on Monday, February 23rd. DA Davidson raised their target price on Deere & Company from $580.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Robert W. Baird reduced their price objective on Deere & Company from $675.00 to $580.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $525.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $655.45.

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.