DT Investment Partners LLC Raises Stock Position in Deere & Company (NYSE:DE)

DT Investment Partners LLC grew its holdings in Deere & Company (NYSE:DE) by 16.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 466 shares of the industrial products company’s stock after acquiring an additional 66 shares during the period. DT Investment Partners LLC’s holdings in Deere & Company were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Deere & Company by 1.2% in the 1st 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 in the last quarter. 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 worth $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after buying an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Deere & Company by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after acquiring an additional 114,116 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on DE. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Citigroup increased their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Raymond James began coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $411.03 on Friday. 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 has a 12 month low of $340.20 and a 12 month high of $420.47. The company has a market capitalization of $113.27 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92. The firm’s 50-day moving average is $396.54 and its 200 day moving average is $385.38.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts predict that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

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.