Oppenheimer & Co. Inc. Has $11.74 Million Stake in Deere & Company (NYSE:DE)

Oppenheimer & Co. Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 1.8% during the third quarter, Holdings Channel reports. The fund owned 28,125 shares of the industrial products company’s stock after acquiring an additional 499 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Deere & Company were worth $11,737,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DE. OLD Second National Bank of Aurora lifted its position in Deere & Company by 0.6% during the third quarter. OLD Second National Bank of Aurora now owns 5,237 shares of the industrial products company’s stock worth $2,186,000 after acquiring an additional 29 shares during the last quarter. Pinnacle Financial Partners Inc lifted its holdings in Deere & Company by 1.6% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 37,270 shares of the industrial products company’s stock worth $15,554,000 after purchasing an additional 591 shares during the last quarter. Simmons Bank lifted its holdings in Deere & Company by 1.2% during the 3rd quarter. Simmons Bank now owns 21,545 shares of the industrial products company’s stock worth $8,991,000 after purchasing an additional 255 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Finally, Haverford Trust Co grew its holdings in Deere & Company by 11.5% in the 3rd quarter. Haverford Trust Co now owns 4,626 shares of the industrial products company’s stock valued at $1,931,000 after buying an additional 478 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE traded down $5.50 during trading hours on Wednesday, reaching $388.25. The stock had a trading volume of 98,339 shares, compared to its average volume of 1,427,390. The stock has a market capitalization of $106.23 billion, a PE ratio of 13.44, a PEG ratio of 1.53 and a beta of 0.93. 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 company’s 50-day moving average is $403.52 and its two-hundred day moving average is $385.61. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company earned $10.20 earnings per share. Research analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DE. BMO Capital Markets started coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Morgan Stanley decreased their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Oppenheimer dropped their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial raised their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $420.69.

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.