Primecap Management Co. CA Makes New $46.10 Million Investment in Deere & Company $DE

Primecap Management Co. CA purchased a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 72,670 shares of the industrial products company’s stock, valued at approximately $46,097,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Anchyra Partners LLC raised its position in Deere & Company by 0.5% in the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company’s stock valued at $1,797,000 after buying an additional 17 shares during the last quarter. William B. Walkup & Associates Inc. boosted its position in Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company’s stock worth $1,638,000 after acquiring an additional 17 shares during the last quarter. Advisortrust Partners LLC grew its stake in shares of Deere & Company by 2.0% during the 1st quarter. Advisortrust Partners LLC now owns 914 shares of the industrial products company’s stock worth $515,000 after acquiring an additional 18 shares in the last quarter. Cerro Pacific Wealth Advisors LLC raised its holdings in shares of Deere & Company by 0.6% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 3,179 shares of the industrial products company’s stock valued at $1,480,000 after purchasing an additional 19 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Deere & Company by 2.4% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 816 shares of the industrial products company’s stock valued at $379,000 after purchasing an additional 19 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE:DE opened at $633.36 on Thursday. The company has a market cap of $170.97 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.60 and a beta of 0.90. 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 one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

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

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio is currently 36.00%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DE shares. Citigroup increased their target price on shares of Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. UBS Group dropped their target price on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a report on Friday, August 21st. DA Davidson upped their price objective on Deere & Company from $685.00 to $760.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price objective on shares of Deere & Company in a report on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.