OneAscent Wealth Management LLC Makes New Investment in Deere & Company (NYSE:DE)

OneAscent Wealth Management LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 529 shares of the industrial products company’s stock, valued at approximately $221,000.

A number of other hedge funds have also recently modified their holdings of DE. Oppenheimer Asset Management Inc. raised 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 valued at $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp increased its position in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Balentine LLC purchased a new stake in Deere & Company in the 3rd quarter valued at about $710,000. Royal Fund Management LLC lifted its position in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC purchased a new position in Deere & Company during the third quarter worth about $1,052,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.4 %

Shares of NYSE:DE opened at $404.63 on Tuesday. The company has a 50 day moving average of $404.38 and a two-hundred day moving average of $385.70. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $110.71 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company 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.