Renaissance Technologies LLC Has $102.49 Million Stock Position in Deere & Company $DE

Renaissance Technologies LLC reduced its position in shares of Deere & Company (NYSE:DE) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 181,942 shares of the industrial products company’s stock after selling 798 shares during the period. Renaissance Technologies LLC owned 0.07% of Deere & Company worth $102,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Cary Street Partners Financial LLC boosted its position in shares of Deere & Company by 11.8% in the fourth quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock valued at $4,801,000 after acquiring an additional 1,086 shares during the period. Spectrum Financial Alliance Ltd LLC increased its position in Deere & Company by 55.8% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock worth $39,737,000 after acquiring an additional 30,553 shares during the period. Westpac Banking Corp increased its position in Deere & Company by 78.6% during the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock worth $3,224,000 after acquiring an additional 3,047 shares during the period. Eldred Rock Partners LLC acquired a new position in Deere & Company during the 4th quarter valued at $13,166,000. Finally, Natixis Advisors LLC raised its stake in Deere & Company by 13.4% during the 4th quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock valued at $180,919,000 after purchasing an additional 45,782 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. DA Davidson restated a “buy” rating and issued a $685.00 price target on shares of Deere & Company in a research report on Friday, July 17th. Truist Financial boosted their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, Robert W. Baird decreased their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Fourteen investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $642.98.

Deere & Company Stock Up 3.0%

Shares of DE stock opened at $628.32 on Friday. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a fifty day moving average price of $585.05 and a 200 day moving average price of $576.08. The stock has a market cap of $169.61 billion, a P/E ratio of 35.60, a price-to-earnings-growth ratio of 2.65 and a beta of 0.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the firm posted $6.64 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts predict that Deere & Company will post 18.28 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

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.