Arrowstreet Capital Limited Partnership Makes New $53.13 Million Investment in Deere & Company $DE

Arrowstreet Capital Limited Partnership purchased a new stake in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 104,478 shares of the industrial products company’s stock, valued at approximately $53,126,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Deere & Company during the second quarter valued at $25,000. Activest Wealth Management increased its stake in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new stake in Deere & Company during the 2nd quarter worth about $38,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 2nd quarter worth about $39,000. Finally, Center for Financial Planning Inc. lifted its stake in Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.2%

Shares of DE opened at $482.60 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 2.01 and a current ratio of 2.22. The company has a 50-day simple moving average of $467.58 and a 200-day simple moving average of $489.59. Deere & Company has a 52 week low of $403.01 and a 52 week high of $533.78. The firm has a market capitalization of $130.46 billion, a P/E ratio of 26.07, a P/E/G ratio of 1.77 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). The firm had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $4.55 earnings per share. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio is presently 35.01%.

Insider Buying and Selling

In other Deere & Company news, CEO John C. May II sold 11,106 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $500.08, for a total value of $5,553,888.48. Following the sale, the chief executive officer owned 112,453 shares of the company’s stock, valued at $56,235,496.24. The trade was a 8.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research report on Friday, November 28th. Wolfe Research lowered their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Monday. UBS Group reiterated a “buy” rating on shares of Deere & Company in a report on Tuesday, November 25th. Finally, Daiwa Capital Markets reduced their target price on shares of Deere & Company from $530.00 to $520.00 and set an “outperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.95.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.