Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 18.96MM shares of Deere & Co. (DE). This represents 6.4% of the company.
In their previous filing dated March 11, 2022 they reported 17.54MM shares and 5.70% of the company, an increase in shares of 8.12% and an increase in total ownership of 0.70% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 14.62% Upside
As of February 6, 2023, the average one-year price target for Deere & is $470.22. The forecasts range from a low of $305.02 to a high of $611.10. The average price target represents an increase of 14.62% from its latest reported closing price of $410.23.
The projected annual revenue for Deere & is $55,138MM, an increase of 4.90%. The projected annual EPS is $28.90, an increase of 23.39%.
Fund Sentiment
There are 3087 funds or institutions reporting positions in Deere &. This is an increase of 86 owner(s) or 2.87%.
Average portfolio weight of all funds dedicated to US:DE is 0.5661%, an increase of 13.0576%. Total shares owned by institutions decreased in the last three months by 0.05% to 243,687K shares.
What are large shareholders doing?
Jpmorgan Chase & holds 12,969,768 shares representing 4.36% ownership of the company. In it's prior filing, the firm reported owning 13,922,798 shares, representing a decrease of 7.35%. The firm increased its portfolio allocation in DE by 7.07% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 8,207,166 shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 8,131,112 shares, representing an increase of 0.93%. The firm increased its portfolio allocation in DE by 17.31% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 6,304,850 shares representing 2.12% ownership of the company. In it's prior filing, the firm reported owning 6,179,484 shares, representing an increase of 1.99%. The firm increased its portfolio allocation in DE by 17.63% over the last quarter.
Wellington Management Group Llp holds 6,001,216 shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 6,163,301 shares, representing a decrease of 2.70%. The firm increased its portfolio allocation in DE by 14.82% over the last quarter.
Janus Henderson Group holds 5,117,290 shares representing 1.72% ownership of the company. In it's prior filing, the firm reported owning 4,666,234 shares, representing an increase of 8.81%. The firm increased its portfolio allocation in DE by 32.86% over the last quarter.
Deere & Declares $1.20 Dividend
Deere & said on December 7, 2022 that its board of directors declared a regular quarterly dividend of $1.20 per share ($4.80 annualized). Shareholders of record as of December 29, 2022 will receive the payment on February 8, 2023. Previously, the company paid $1.13 per share.
At the current share price of $410.23 / share, the stock's dividend yield is 1.17%. Looking back five years and taking a sample every week, the average dividend yield has been 1.52%, the lowest has been 0.90%, and the highest has been 2.74%. The standard deviation of yields is 0.41 (n=237).
The current dividend yield is 0.87 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.20. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.58%, demonstrating that it has increased its dividend over time.
Deere & Background Information
(This description is provided by the company.)
Deere & Company is a world leader in providing advanced products, technology and services for customers whose work is revolutionizing agriculture and construction - those who cultivate, harvest, transform, enrich and build upon the land to meet the world's increasing need for food, fuel, shelter and infrastructure.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
