Invesco Ltd. Has $758.41 Million Stake in Deere & Company $DE

Invesco Ltd. increased its stake in Deere & Company by 10.2% in Q2, owning 1,491,495 shares valued at $758.41 million. Several other hedge funds also adjusted their positions in Deere. Analysts have mixed ratings on Deere, with a consensus "Moderate Buy" and an average price target of $518.95. Deere's recent earnings missed estimates slightly, with revenue up 14.1% year-over-year. The company announced a quarterly dividend to be paid on February 9th.

Invesco Ltd. raised its stake in shares of Deere & Company (NYSE:DE - Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,491,495 shares of the industrial products company's stock after purchasing an additional 138,240 shares during the quarter. Invesco Ltd. owned 0.55% of Deere & Company worth $758,410,000 as of its most recent filing with the SEC.

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Several other hedge funds have also made changes to their positions in DE. OLD National Bancorp IN raised its stake in shares of Deere & Company by 2.6% in the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock valued at $12,204,000 after acquiring an additional 610 shares during the last quarter. Providence Capital Advisors LLC grew its position in Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock worth $6,871,000 after acquiring an additional 303 shares during the last quarter. Bragg Financial Advisors Inc increased its holdings in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after purchasing an additional 813 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new stake in Deere & Company during the 1st quarter valued at $13,588,000. Finally, United Asset Strategies Inc. bought a new position in Deere & Company in the 1st quarter valued at $2,496,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Jefferies Financial Group decreased their target price on Deere & Company from $510.00 to $440.00 and set a "hold" rating on the stock in a report on Wednesday, October 8th. Zacks Research downgraded shares of Deere & Company from a "hold" rating to a "strong sell" rating in a research report on Monday, October 20th. Sanford C. Bernstein raised their price objective on shares of Deere & Company from $487.00 to $521.00 and gave the company a "market perform" rating in a research report on Thursday, November 13th. Robert W. Baird reduced their target price on shares of Deere & Company from $488.00 to $467.00 and set a "neutral" rating on the stock in a research report on Monday, October 13th. Finally, Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $518.95.

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Deere & Company Stock Performance

Deere & Company stock opened at $481.90 on Thursday. The company has a market cap of $130.27 billion, a PE ratio of 26.03, a PEG ratio of 1.71 and a beta of 1.00. The company has a current ratio of 2.22, a quick ratio of 2.01 and a debt-to-equity ratio of 1.68. Deere & Company has a 1 year low of $403.01 and a 1 year high of $533.78. The company's 50-day moving average is $467.28 and its two-hundred day moving average is $489.64.

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Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 EPS for the quarter, missing the consensus estimate of $3.96 by ($0.03). The business had revenue of $12.39 billion for the quarter, compared to analyst estimates of $9.77 billion. Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.During the same quarter in the prior year, the firm earned $4.55 EPS. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Shareholders of record on Wednesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Wednesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's payout ratio is presently 35.01%.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the transaction, the chief executive officer owned 112,453 shares of the company's stock, valued at $56,235,496.24. This represents a 8.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

Deere & Company Company Profile

(Free Report)

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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