Clearbridge Investments LLC Has $87.79 Million Stock Position in Deere & Company (NYSE:DE)

Clearbridge Investments LLC raised its position in Deere & Company (NYSE:DE) by 4.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 234,952 shares of the industrial products company’s stock after acquiring an additional 10,899 shares during the period. Clearbridge Investments LLC’s holdings in Deere & Company were worth $87,785,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC increased its stake in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter worth about $26,000. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 4th quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in Deere & Company during the 4th quarter valued at about $33,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.0 %

Shares of DE opened at $416.49 on Thursday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The business has a 50-day moving average of $382.11 and a 200 day moving average of $384.87. The firm has a market cap of $114.77 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the company earned $10.20 earnings per share. As a group, research analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Citigroup cut their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Morgan Stanley dropped their target price 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. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $410.50.

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.