Deere & Company $DE Shares Bought by Saudi Central Bank

Saudi Central Bank raised its holdings in Deere & Company (NYSE:DE) by 79.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 17,017 shares of the industrial products company’s stock after acquiring an additional 7,534 shares during the quarter. Saudi Central Bank’s holdings in Deere & Company were worth $10,794,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC raised its holdings in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the last quarter. Schnieders Capital Management LLC. lifted its stake in shares of Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 150 shares during the period. Jump Financial LLC purchased a new stake in shares of Deere & Company during the second quarter valued at $2,153,000. NewEdge Advisors LLC grew its holdings in shares of Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after buying an additional 1,067 shares during the last quarter. Finally, Main Street Financial Solutions LLC increased its position in shares of Deere & Company by 6.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock valued at $789,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.2%

Shares of Deere & Company stock opened at $692.68 on Friday. The stock has a market cap of $186.76 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 2.86 and a beta of 0.90. The firm has a fifty day moving average price of $619.13 and a 200 day moving average price of $596.29. Deere & Company has a 1 year low of $433.00 and a 1 year high of $705.88. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.75 earnings per share. Equities research analysts predict that Deere & Company will post 18.12 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DE shares. Raymond James Financial raised their target price on Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Barclays boosted their price target on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Nomura upgraded Deere & Company to a “buy” rating in a research note on Monday, August 31st. Finally, Bank of America decreased their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Sixteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $680.73.

Deere & 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.