Boston Partners Has $166.85 Million Holdings in Deere & Company (NYSE:DE)

Boston Partners raised its stake in Deere & Company (NYSE:DE) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,995 shares of the industrial products company’s stock after acquiring an additional 3,044 shares during the quarter. Boston Partners’ holdings in Deere & Company were worth $166,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. First Citizens Bank & Trust Co. grew its holdings in Deere & Company by 4.9% during the fourth quarter. First Citizens Bank & Trust Co. now owns 2,298 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 107 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Deere & Company by 9.6% in the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 50 shares during the last quarter. LVZ Inc. grew its stake in shares of Deere & Company by 9.6% in the fourth quarter. LVZ Inc. now owns 764 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 67 shares in the last quarter. Trust Point Inc. acquired a new position in shares of Deere & Company in the fourth quarter valued at about $1,446,000. Finally, WoodTrust Financial Corp grew its stake in shares of Deere & Company by 10.4% in the fourth quarter. WoodTrust Financial Corp now owns 938 shares of the industrial products company’s stock valued at $375,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE traded down $4.16 during mid-day trading on Friday, reaching $353.75. 2,820,703 shares of the company’s stock were exchanged, compared to its average volume of 1,566,937. The firm has a market capitalization of $97.48 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. Deere & Company has a 52 week low of $345.93 and a 52 week high of $441.46. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The firm has a 50-day moving average price of $370.86 and a two-hundred day moving average price of $382.94.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $9.65 EPS. Analysts predict that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent analyst reports. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Daiwa Capital Markets raised their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Truist Financial dropped their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a report on Tuesday, July 2nd. Citigroup initiated coverage on shares of Deere & Company in a research report on Wednesday, June 26th. They set a “neutral” rating and a $395.00 target price for the company. Finally, TD Cowen increased their target price on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $426.71.

Insider Buying and Selling

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Deere & Company Company Profile

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.