221,993 Shares in Deere & Company $DE Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in Deere & Company (NYSE:DE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 221,993 shares of the industrial products company’s stock, valued at approximately $140,817,000. Canada Pension Plan Investment Board owned about 0.08% of Deere & Company as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Deere & Company during the second quarter worth $11,763,504,000. Norges Bank bought a new position in Deere & Company during the fourth quarter worth about $1,715,633,000. Capital World Investors grew its position in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after buying an additional 3,358,264 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Deere & Company during the 2nd quarter worth about $1,259,279,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Deere & Company by 1,725.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after acquiring an additional 1,893,972 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Raymond James Financial reduced their price objective on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. UBS Group lowered their target price on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research note on Friday, August 21st. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Robert W. Baird raised their price objective on Deere & Company from $525.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, August 21st. Finally, Truist Financial reduced their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a report on Monday. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $653.48.

Deere & Company Stock Performance

Shares of DE opened at $633.36 on Thursday. The firm has a market cap of $170.97 billion, a P/E ratio of 35.19, a PEG ratio of 2.60 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. The firm’s 50 day moving average price is $610.13 and its two-hundred day moving average price is $592.80.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the firm earned $4.75 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 18.09 EPS for the current fiscal year.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.