Temasek Holdings Private Ltd Makes New Investment in Deere & Company $DE

Temasek Holdings Private Ltd acquired a new position in shares of Deere & Company (NYSE:DE) in the first quarter, HoldingsChannel.com reports. The firm acquired 66,141 shares of the industrial products company’s stock, valued at approximately $37,257,000.

A number of other large investors also recently modified their holdings of DE. Key Capital Management INC acquired a new position in Deere & Company during the fourth quarter valued at approximately $27,000. Timmons Wealth Management LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $29,000. McIlrath & Eck LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $30,000. Portus Wealth Advisors LLC bought a new stake in shares of Deere & Company during the 1st quarter worth approximately $32,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Deere & Company during the 3rd quarter worth approximately $32,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of NYSE DE opened at $588.06 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $158.74 billion, a P/E ratio of 33.32, a P/E/G ratio of 2.15 and a beta of 0.89. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The stock has a 50 day moving average of $582.48 and a 200-day moving average of $573.70.

Deere & Company (NYSE:DE) last posted its quarterly earnings results 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 business had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the prior year, the business earned $6.64 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 18.27 EPS for the current year.

Deere & Company Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. DA Davidson reaffirmed a “buy” rating and set a $685.00 price target on shares of Deere & Company in a research report on Friday, July 17th. Barclays increased their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Finally, Citigroup boosted their price objective on shares of Deere & Company from $575.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $642.98.

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.