Deere & Company (NYSE:DE) Shares Purchased by SFE Investment Counsel

SFE Investment Counsel raised its stake in Deere & Company (NYSE:DE) by 1.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,877 shares of the industrial products company’s stock after buying an additional 82 shares during the quarter. SFE Investment Counsel’s holdings in Deere & Company were worth $2,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares during the period. Parnassus Investments LLC boosted its stake in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Norges Bank acquired a new position in Deere & Company during the fourth quarter worth about $1,248,036,000. Finally, Dimensional Fund Advisors LP raised its position in Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after acquiring an additional 160,369 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.5 %

Deere & Company stock opened at $381.85 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46. 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 firm has a market cap of $105.23 billion, a PE ratio of 11.49, a P/E/G ratio of 1.28 and a beta of 0.92. The firm’s 50 day moving average price is $369.04 and its two-hundred day moving average price is $380.35.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $10.20 earnings per share. On average, research analysts predict that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.54%. Deere & Company’s dividend payout ratio is 17.70%.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial reiterated a “buy” rating and issued a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Daiwa Capital Markets upped their price target on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Citigroup reduced their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Stifel Nicolaus boosted their target price on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Fourteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $414.11.

Deere & 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.