Deere & Company (NYSE:DE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Deere & Company (NYSE:DE) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,208,368 shares of the industrial products company’s stock after purchasing an additional 31,459 shares during the period. Geode Capital Management LLC’s holdings in Deere & Company were worth $2,168,737,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new stake in Deere & Company in the 2nd quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter worth approximately $32,000. Centennial Bank AR grew 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 purchasing an additional 84 shares during the period. Continuum Advisory LLC increased its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Finally, Briaud Financial Planning Inc increased its position in Deere & Company by 73.5% during the second quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 50 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $449.27 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s fifty day moving average price is $418.17 and its two-hundred day moving average price is $390.83. The firm has a market capitalization of $122.92 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.90 and a beta of 0.96. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. The company’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is 22.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DE. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Truist Financial boosted their price target on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $443.28.

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.