CIBC Asset Management Inc Boosts Stake in Deere & Company (NYSE:DE)

CIBC Asset Management Inc increased its position in shares of Deere & Company (NYSE:DE - Free Report) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,074 shares of the industrial products company's stock after acquiring an additional 1,474 shares during the quarter. CIBC Asset Management Inc's holdings in Deere & Company were worth $15,889,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC boosted its holdings in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company's stock worth $1,585,028,000 after buying an additional 19,200 shares during the last quarter. Legal & General Group Plc boosted its stake in Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company's stock worth $842,259,000 after acquiring an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company's stock valued at $802,037,000 after purchasing an additional 279,627 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company's stock valued at $603,854,000 after purchasing an additional 114,116 shares in the last quarter. Finally, Markel Group Inc. raised its stake in Deere & Company by 2.8% during the 3rd quarter. Markel Group Inc. now owns 869,100 shares of the industrial products company's stock worth $362,702,000 after buying an additional 23,750 shares during the period. Institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

DE has been the subject of several research reports. Citigroup increased their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 9th. HSBC lowered shares of Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, August 19th. Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an "outperform" rating on the stock in a report on Monday, July 22nd. Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Finally, Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an "in-line" rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $420.69.

Deere & Company Stock Performance

DE traded up $4.31 during midday trading on Friday, reaching $398.95. The company had a trading volume of 1,168,176 shares, compared to its average volume of 1,431,512. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a market cap of $109.15 billion, a PE ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93. The business has a 50-day moving average price of $404.03 and a two-hundred day moving average price of $385.69. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business's revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $10.20 earnings per share. On average, sell-side analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company's payout ratio is 20.06%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.