Triodos Investment Management BV Invests $38.24 Million in Deere & Company (NYSE:DE)

Triodos Investment Management BV acquired a new stake in shares of Deere & Company (NYSE:DE) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 102,350 shares of the industrial products company’s stock, valued at approximately $38,241,000. Deere & Company comprises approximately 3.3% of Triodos Investment Management BV’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Deere & Company by 15.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock valued at $841,000 after purchasing an additional 288 shares in the last quarter. Gilbert & Cook Inc. boosted its stake 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 valued at $791,000 after buying an additional 102 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Deere & Company by 143.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 14,071 shares of the industrial products company’s stock worth $5,626,000 after buying an additional 8,290 shares in the last quarter. 9258 Wealth Management LLC grew its position in Deere & Company by 9.8% during the fourth quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after buying an additional 176 shares in the last quarter. Finally, Stokes Family Office LLC increased its stake in Deere & Company by 8.8% in the 4th quarter. Stokes Family Office LLC now owns 769 shares of the industrial products company’s stock worth $308,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.0 %

Shares of NYSE DE traded up $3.92 during midday trading on Friday, hitting $385.74. The stock had a trading volume of 1,413,160 shares, compared to its average volume of 1,615,005. The business’s 50 day moving average is $367.94 and its 200-day moving average is $379.81. Deere & Company has a 52 week low of $340.20 and a 52 week high of $423.35. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $106.30 billion, a P/E ratio of 11.61, a PEG ratio of 1.28 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $10.20 EPS. As a group, analysts predict that Deere & Company will post 25.09 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s payout ratio is 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DE shares. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. DA Davidson reduced their target price on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Truist Financial reaffirmed a “buy” rating and set a $443.00 price objective (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Finally, Citigroup lowered their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $414.11.

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.