Mediolanum International Funds Ltd Boosts Stock Position in Deere & Company (NYSE:DE)

Mediolanum International Funds Ltd grew its stake in Deere & Company (NYSE:DE) by 4.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,750 shares of the industrial products company’s stock after purchasing an additional 2,205 shares during the period. Mediolanum International Funds Ltd’s holdings in Deere & Company were worth $21,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Pineridge Advisors LLC lifted its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Fairscale Capital LLC acquired a new position in Deere & Company in the second quarter valued at approximately $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new position in Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR lifted its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE stock traded up $0.84 during mid-day trading on Friday, hitting $411.91. 96,428 shares of the stock were exchanged, compared to its average volume of 1,451,396. The stock’s fifty day simple moving average is $396.54 and its two-hundred day simple moving average is $385.38. The stock has a market capitalization of $113.51 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

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 the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the company posted $10.20 earnings per share. On average, analysts forecast 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. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup increased their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, Truist Financial increased their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $420.69.

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.