Gifford Fong Associates Invests $825,000 in Deere & Company (DE) Stock

Gifford Fong Associates bought a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,900 shares of the industrial products company’s stock, valued at approximately $825,000.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Deere & Company by 5.5% in the first quarter. BlackRock Inc. now owns 18,857,199 shares of the industrial products company’s stock valued at $2,928,897,000 after acquiring an additional 978,907 shares during the period. FMR LLC raised its stake in shares of Deere & Company by 3.2% in the second quarter. FMR LLC now owns 10,120,872 shares of the industrial products company’s stock valued at $1,414,898,000 after purchasing an additional 316,150 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Deere & Company by 0.6% in the first quarter. Loomis Sayles & Co. L P now owns 6,489,578 shares of the industrial products company’s stock valued at $1,007,961,000 after purchasing an additional 39,778 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Deere & Company by 11.8% in the second quarter. Janus Henderson Group PLC now owns 2,871,865 shares of the industrial products company’s stock valued at $401,491,000 after purchasing an additional 303,621 shares in the last quarter. Finally, Findlay Park Partners LLP raised its stake in shares of Deere & Company by 86.4% in the second quarter. Findlay Park Partners LLP now owns 1,359,572 shares of the industrial products company’s stock valued at $190,068,000 after purchasing an additional 630,000 shares in the last quarter. 66.63% of the stock is owned by hedge funds and other institutional investors.

Deere & Company stock opened at $147.76 on Monday. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.91 and a quick ratio of 1.66. Deere & Company has a 52-week low of $118.37 and a 52-week high of $175.26. The firm has a market cap of $47.54 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 2.74 and a beta of 0.86.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Friday, August 17th. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.75 by ($0.16). Deere & Company had a return on equity of 28.51% and a net margin of 5.82%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.18 billion. During the same quarter in the prior year, the company earned $1.97 earnings per share. The business’s revenue was up 35.9% compared to the same quarter last year. equities analysts anticipate that Deere & Company will post 9.5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Friday, September 28th will be paid a dividend of $0.69 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $2.76 annualized dividend and a yield of 1.87%. Deere & Company’s dividend payout ratio is currently 41.32%.

A number of brokerages recently commented on DE. ValuEngine lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Deutsche Bank set a $155.00 target price on Deere & Company and gave the company a “hold” rating in a research note on Wednesday, September 5th. UBS Group cut their target price on Deere & Company from $185.00 to $177.00 and set a “buy” rating for the company in a research note on Friday, July 20th. OTR Global lowered Deere & Company to a “$139.21” rating in a research note on Wednesday, July 18th. Finally, Argus cut their target price on Deere & Company to $160.00 and set a “buy” rating for the company in a research note on Monday, August 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. Deere & Company currently has a consensus rating of “Buy” and an average target price of $177.75.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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