Primecap Management Co. CA Sells 130 Shares of Deere & Company (NYSE:DE)

Primecap Management Co. CA cut its stake in Deere & Company (NYSE:DE) by 0.2% in the third quarter, HoldingsChannel reports. The fund owned 86,450 shares of the industrial products company’s stock after selling 130 shares during the period. Primecap Management Co. CA’s holdings in Deere & Company were worth $36,078,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after acquiring an additional 114,116 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its stake in Deere & Company by 11.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock worth $559,901,000 after acquiring an additional 139,336 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 7.7 %

DE stock opened at $436.28 on Friday. The company has a market cap of $119.37 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $442.05. The business has a 50 day moving average price of $405.95 and a two-hundred day moving average price of $386.18. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the business earned $8.26 earnings per share. The firm’s revenue was down 32.8% on a year-over-year basis. Analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s payout ratio is 20.06%.

Analyst Ratings Changes

DE has been the topic of several research analyst reports. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial boosted their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI raised their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & 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.