Regents Gate Capital LLP Invests $8.10 Million in Deere & Company $DE

Regents Gate Capital LLP acquired a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,403 shares of the industrial products company’s stock, valued at approximately $8,102,000. Deere & Company accounts for about 2.6% of Regents Gate Capital LLP’s investment portfolio, making the stock its 20th largest position.

Several other hedge funds also recently bought and sold shares of the company. Strategic Advocates LLC bought a new stake in Deere & Company during the third quarter valued at about $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $27,000. McIlrath & Eck LLC bought a new stake in Deere & Company during the 4th quarter valued at approximately $30,000. Wealth Watch Advisors INC purchased a new position in Deere & Company in the 3rd quarter worth approximately $32,000. Finally, Tucker Asset Management LLC bought a new position in Deere & Company in the 4th quarter worth approximately $34,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DE. UBS Group raised their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a research note on Friday, February 20th. BMO Capital Markets raised their price objective on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Oppenheimer reiterated an “outperform” rating and issued a $680.00 target price (down from $715.00) on shares of Deere & Company in a research report on Wednesday, May 27th. Wolfe Research lifted their price objective on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 31st. Finally, Robert W. Baird lowered their price objective on shares of Deere & Company from $580.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Price Performance

Shares of DE stock opened at $569.09 on Friday. The firm has a market capitalization of $153.62 billion, a P/E ratio of 32.24, a P/E/G ratio of 2.07 and a beta of 0.92. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The stock has a 50 day moving average price of $573.17 and a 200 day moving average price of $548.69.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.64 earnings per share. As a group, sell-side analysts predict that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s dividend payout ratio is presently 36.71%.

About Deere & Company

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.