221,993 Shares in Deere & Company $DE Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in Deere & Company (NYSE:DE) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 221,993 shares of the industrial products company’s stock, valued at approximately $140,817,000.

Several other institutional investors have also recently bought and sold shares of DE. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $27,000. Kilter Group LLC bought a new stake in shares of Deere & Company in the second quarter worth $29,000. Timmons Wealth Management LLC bought a new stake in shares of Deere & Company in the fourth quarter worth $29,000. McIlrath & Eck LLC acquired a new position in Deere & Company during the fourth quarter worth $30,000. Finally, Solstein Capital LLC acquired a new position in Deere & Company during the second quarter worth $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $633.36 on Thursday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm’s fifty day moving average price is $610.13 and its two-hundred day moving average price is $592.80. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The firm has a market capitalization of $170.97 billion, a P/E ratio of 35.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter last year, the company posted $4.75 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 18.09 EPS for the current year.

Analyst Ratings Changes

DE has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $570.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, August 21st. Truist Financial reduced their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday. DA Davidson raised their price objective on Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Tuesday, August 18th. Finally, Oppenheimer upped their target price on Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $653.48.

Deere & 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.