State Street Corp Increases Stock Position in Deere & Company $DE

State Street Corp boosted its stake in Deere & Company (NYSE:DE) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,485,949 shares of the industrial products company’s stock after acquiring an additional 97,049 shares during the period. State Street Corp owned about 3.87% of Deere & Company worth $4,898,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Norges Bank purchased a new stake in Deere & Company in the fourth quarter valued at $1,715,633,000. Capital World Investors lifted its position in Deere & Company by 53.9% in the fourth quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after acquiring an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Deere & Company by 1,725.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after acquiring an additional 1,893,972 shares during the last quarter. M&T Bank Corp lifted its position in Deere & Company by 1,199.8% in the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after acquiring an additional 1,721,239 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Deere & Company by 278.0% in the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock valued at $223,005,000 after acquiring an additional 358,687 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.5%

NYSE DE opened at $577.05 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm has a market cap of $155.77 billion, a PE ratio of 32.69, a P/E/G ratio of 2.10 and a beta of 0.92. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The firm’s fifty day moving average is $573.27 and its two-hundred day moving average is $548.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $6.64 earnings per share. Analysts expect that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s payout ratio is currently 36.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DE shares. BMO Capital Markets boosted their price target on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. UBS Group lifted their price objective on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Robert W. Baird dropped their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 22nd. Finally, Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

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.