ASB Consultores LLC Increases Stock Position in Deere & Company (NYSE:DE)

ASB Consultores LLC grew its position in shares of Deere & Company (NYSE:DE) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 779 shares of the industrial products company’s stock after purchasing an additional 61 shares during the period. ASB Consultores LLC’s holdings in Deere & Company were worth $325,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DE. Oppenheimer Asset Management Inc. grew its position in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Royal Fund Management LLC increased its position in shares of Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares during the last quarter. New Century Financial Group LLC purchased a new stake in Deere & Company during the 3rd quarter valued at $1,052,000. Manning & Napier Advisors LLC bought a new stake in Deere & Company in the second quarter worth $24,984,000. Finally, Handelsbanken Fonder AB boosted its stake in Deere & Company by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock worth $37,923,000 after buying an additional 1,963 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.3 %

DE stock opened at $401.68 on Tuesday. The stock has a market cap of $109.90 billion, a P/E ratio of 13.70, a PEG ratio of 1.52 and a beta of 0.93. 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 twelve month low of $340.20 and a twelve month high of $420.47. The company’s 50 day moving average is $401.23 and its two-hundred day moving average is $385.41.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping 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 company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. Research analysts expect that Deere & Company will post 25 earnings per share 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. Investors 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 yield of 1.46%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Ratings Changes

Several research firms have recently issued reports on DE. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial raised their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.