207,400 Shares in Deere & Company (NYSE:DE) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Deere & Company (NYSE:DE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 207,400 shares of the industrial products company’s stock, valued at approximately $77,491,000.

Other hedge funds have also made changes to their positions in the company. Swedbank AB acquired a new stake in Deere & Company in the 1st quarter valued at approximately $191,628,000. Mawer Investment Management Ltd. acquired a new stake in Deere & Company in the 2nd quarter valued at approximately $166,937,000. Dimensional Fund Advisors LP increased its position in 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. Vanguard Group Inc. increased its position in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in Deere & Company by 28,306.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock valued at $934,000 after acquiring an additional 249,097 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on DE. Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Raymond James began coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. Morgan Stanley lowered their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Truist Financial reiterated a “buy” rating and set a $443.00 price target (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $410.50.

Deere & Company Stock Performance

Shares of NYSE DE opened at $416.49 on Thursday. 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 stock has a market capitalization of $114.77 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.36 and a beta of 0.92. The stock’s fifty day simple moving average is $382.11 and its 200 day simple moving average is $384.87. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.20 EPS. As a group, sell-side analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.41%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.