Capital Research Global Investors Has $66.44 Million Stake in Deere & Company $DE

Capital Research Global Investors boosted its holdings in shares of Deere & Company (NYSE:DE) by 0.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 142,707 shares of the industrial products company’s stock after buying an additional 1,214 shares during the period. Capital Research Global Investors’ holdings in Deere & Company were worth $66,440,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Capital International Sarl increased its position in Deere & Company by 229.0% during the fourth quarter. Capital International Sarl now owns 75,298 shares of the industrial products company’s stock worth $35,056,000 after buying an additional 52,410 shares during the last quarter. Capital International Ltd. CA increased its position in Deere & Company by 256.1% during the fourth quarter. Capital International Ltd. CA now owns 39,708 shares of the industrial products company’s stock worth $18,487,000 after buying an additional 28,558 shares during the last quarter. Capital International Inc. CA increased its position in Deere & Company by 106.2% during the fourth quarter. Capital International Inc. CA now owns 111,758 shares of the industrial products company’s stock worth $52,031,000 after buying an additional 57,560 shares during the last quarter. Capital Group Investment Management PTE. LTD. increased its position in Deere & Company by 260.9% during the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 8,668 shares of the industrial products company’s stock worth $4,036,000 after buying an additional 6,266 shares during the last quarter. Finally, Modus Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth $190,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on DE shares. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $560.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Argus increased their target price on shares of Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. DA Davidson lowered their price target on Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Morgan Stanley raised their price target on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. Finally, UBS Group raised their price target on Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Trading Up 0.8%

Shares of NYSE:DE opened at $578.07 on Wednesday. The company has a market cap of $156.04 billion, a P/E ratio of 32.75, a P/E/G ratio of 2.13 and a beta of 0.92. The stock’s 50-day moving average is $572.93 and its 200-day moving average is $547.52. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $6.64 earnings per share. Equities research analysts predict that Deere & Company will post 18.1 earnings per share for the current year.

Deere & Company Announces Dividend

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

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.