Desjardins Global Asset Management Inc. Boosts Holdings in Deere & Company (NYSE:DE)

Desjardins Global Asset Management Inc. grew its stake in shares of Deere & Company (NYSE:DE) by 20.6% in the fourth quarter, HoldingsChannel reports. The fund owned 1,835 shares of the industrial products company’s stock after buying an additional 314 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Deere & Company were worth $734,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Briaud Financial Planning Inc acquired a new position in Deere & Company during the third quarter worth approximately $25,000. Retirement Group LLC grew its stake in shares of Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after buying an additional 45 shares during the period. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth $28,000. Worth Asset Management LLC purchased a new position in shares of Deere & Company in the 1st quarter worth $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in Deere & Company in the third quarter valued at $37,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.0 %

Shares of DE opened at $397.01 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The stock has a 50-day moving average price of $385.17 and a 200 day moving average price of $382.66. The company has a market capitalization of $110.51 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.55 earnings per share. Sell-side analysts forecast that Deere & Company will post 27.39 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. Deere & Company’s payout ratio is 17.12%.

Analysts Set New Price Targets

Several brokerages have commented on DE. Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Stifel Nicolaus cut their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.