WINTON GROUP Ltd Takes $6.95 Million Position in Deere & Company $DE

WINTON GROUP Ltd acquired a new stake in Deere & Company (NYSE:DE) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 14,929 shares of the industrial products company’s stock, valued at approximately $6,950,000.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Deere & Company during the fourth quarter worth about $1,715,633,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Deere & Company by 1,725.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock worth $932,870,000 after purchasing an additional 1,893,972 shares in the last quarter. M&T Bank Corp grew its holdings in shares of Deere & Company by 1,199.8% during the fourth quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after buying an additional 1,721,239 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Deere & Company by 278.0% during the third quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock worth $223,005,000 after buying an additional 358,687 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Deere & Company by 21.7% during the third quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company’s stock worth $829,930,000 after buying an additional 323,512 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Citigroup lowered their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. 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 report on Friday, May 22nd. Finally, Truist Financial lowered their price target on Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Fourteen equities research 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, the company has an average rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Price Performance

Shares of DE opened at $583.80 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The stock’s 50 day moving average is $572.86 and its two-hundred day moving average is $545.60. The firm has a market capitalization of $157.59 billion, a PE ratio of 33.08, a P/E/G ratio of 2.20 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the company earned $6.64 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Dividend Announcement

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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio 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.