Arrowstreet Capital Limited Partnership Purchases 45,524 Shares of Deere & Company $DE

Arrowstreet Capital Limited Partnership increased its stake in Deere & Company (NYSE:DE) by 26.8% during the 4th quarter, HoldingsChannel reports. The firm owned 215,651 shares of the industrial products company’s stock after buying an additional 45,524 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Deere & Company were worth $100,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atlas Capital Advisors Inc. purchased a new position in shares of Deere & Company during the 4th quarter worth $3,227,000. Aptus Capital Advisors LLC lifted its stake in shares of Deere & Company by 2.3% during the 4th quarter. Aptus Capital Advisors LLC now owns 45,547 shares of the industrial products company’s stock valued at $21,206,000 after buying an additional 1,014 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in shares of Deere & Company by 6.3% during the 4th quarter. Jacobi Capital Management LLC now owns 6,134 shares of the industrial products company’s stock valued at $2,856,000 after buying an additional 364 shares in the last quarter. FORA Capital LLC lifted its stake in shares of Deere & Company by 5.9% during the 4th quarter. FORA Capital LLC now owns 2,153 shares of the industrial products company’s stock valued at $1,002,000 after buying an additional 119 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in shares of Deere & Company by 4.4% during the 4th quarter. Kestra Advisory Services LLC now owns 96,777 shares of the industrial products company’s stock valued at $45,056,000 after buying an additional 4,057 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DE. Argus lifted their target price on shares of Deere & Company from $540.00 to $700.00 and gave the company a “buy” rating in a research note on Tuesday, March 3rd. Wolfe Research lifted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Wells Fargo & Company lifted their price target on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Truist Financial reduced their price target on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Finally, DA Davidson reduced their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Stock Performance

Deere & Company stock opened at $575.87 on Tuesday. The company’s 50-day moving average price is $573.28 and its 200-day moving average price is $549.86. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market cap of $155.45 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92.

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

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

About Deere & Company

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.