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

Diversified LLC raised its holdings in Deere & Company (NYSE:DE) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,026 shares of the industrial products company’s stock after purchasing an additional 73 shares during the quarter. Diversified LLC’s holdings in Deere & Company were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its stake in shares of Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Deere & Company by 15.0% during the 2nd 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 in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after acquiring an additional 158,732 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of Deere & Company by 11.6% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock worth $559,901,000 after acquiring an additional 139,336 shares in the last quarter. Finally, Markel Group Inc. boosted its stake in shares of Deere & Company by 2.8% during the 3rd quarter. Markel Group Inc. now owns 869,100 shares of the industrial products company’s stock worth $362,702,000 after acquiring an additional 23,750 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.3 %

Shares of DE stock opened at $448.20 on Monday. The stock has a market cap of $122.63 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $448.20. The firm’s 50 day moving average price is $406.99 and its two-hundred day moving average price is $386.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the company posted $8.26 earnings per share. On average, analysts anticipate that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.31%. Deere & Company’s payout ratio is currently 22.97%.

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Truist Financial upped their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $431.61.

Deere & Company 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.