Primecap Management Co. CA Has $32.35 Million Stock Holdings in Deere & Company (NYSE:DE)

Primecap Management Co. CA cut its position in shares of Deere & Company (NYSE:DE) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,580 shares of the industrial products company’s stock after selling 200 shares during the quarter. Primecap Management Co. CA’s holdings in Deere & Company were worth $32,349,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DE. Gilbert & Cook Inc. grew its position in Deere & Company by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock worth $791,000 after buying an additional 102 shares in the last quarter. 9258 Wealth Management LLC grew its stake in shares of Deere & Company by 9.8% in the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after purchasing an additional 176 shares during the period. Gryphon Financial Partners LLC grew its stake in shares of Deere & Company by 62.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock valued at $551,000 after purchasing an additional 552 shares during the period. Jump Financial LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at approximately $380,000. Finally, Great Lakes Advisors LLC grew its stake in shares of Deere & Company by 92.9% in the 4th quarter. Great Lakes Advisors LLC now owns 5,070 shares of the industrial products company’s stock valued at $2,027,000 after purchasing an additional 2,442 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.8 %

NYSE:DE opened at $397.91 on Wednesday. The stock’s fifty day moving average price is $373.48 and its two-hundred day moving average price is $382.05. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market cap of $109.65 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.29 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.20 EPS. On average, analysts anticipate that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Raymond James assumed coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. Truist Financial reiterated a “buy” rating and issued a $443.00 price objective (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $409.88.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.