Lighthouse Investment Partners LLC Invests $237,000 in Deere & Company (NYSE:DE)

Lighthouse Investment Partners LLC bought a new stake in Deere & Company (NYSE:DE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 633 shares of the industrial products company’s stock, valued at approximately $237,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Swedbank AB acquired a new position in shares of Deere & Company during the first quarter worth approximately $191,628,000. Mawer Investment Management Ltd. acquired a new position in Deere & Company during the second quarter worth $166,937,000. Dimensional Fund Advisors LP lifted its stake in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares during the last quarter. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Deere & Company by 28,306.5% during the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock valued at $934,000 after buying an additional 249,097 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DE. Morgan Stanley dropped their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Truist Financial restated a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Oppenheimer decreased their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average price target of $410.50.

Deere & Company Trading Up 1.6 %

NYSE:DE opened at $418.00 on Monday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $419.63. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm’s 50 day moving average is $379.51 and its 200 day moving average is $384.15. The stock has a market capitalization of $115.19 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

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 paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.41%. Deere & Company’s payout ratio is 17.70%.

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.