AustralianSuper Pty Ltd Reduces Stock Holdings in Deere & Company (NYSE:DE)

AustralianSuper Pty Ltd trimmed its holdings in shares of Deere & Company (NYSE:DE) by 23.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,534 shares of the industrial products company’s stock after selling 66,711 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Deere & Company were worth $94,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC grew its stake in Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC grew its stake in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Fisher Asset Management LLC grew its stake in Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Deere & Company by 5.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock valued at $722,733,000 after purchasing an additional 85,401 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE DE opened at $480.17 on Friday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock has a market cap of $130.77 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a 50-day moving average price of $446.23 and a two-hundred day moving average price of $415.49.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Truist Financial reissued a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $448.72.

Deere & Company Company Profile

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.