Ontario Teachers Pension Plan Board Boosts Stock Position in Deere & Company (NYSE:DE)

Ontario Teachers Pension Plan Board boosted its holdings in shares of Deere & Company (NYSE:DE) by 11.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,341,626 shares of the industrial products company’s stock after purchasing an additional 139,336 shares during the quarter. Deere & Company makes up about 4.7% of Ontario Teachers Pension Plan Board’s portfolio, making the stock its 10th largest position. Ontario Teachers Pension Plan Board’s holdings in Deere & Company were worth $559,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC lifted its stake in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its position in shares of Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the period. Swedbank AB acquired a new stake in shares of Deere & Company during the 1st quarter worth approximately $191,628,000. Mawer Investment Management Ltd. bought a new stake in shares of Deere & Company during the second quarter valued at approximately $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Deere & Company in the third quarter valued at $136,936,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Citigroup increased their price target 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. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Trading Down 1.1 %

Shares of NYSE DE opened at $400.13 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a 50-day moving average of $404.63 and a two-hundred day moving average of $385.69. The company has a market cap of $109.47 billion, a PE ratio of 13.65, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

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 given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 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.