Balentine LLC Purchases New Position in Deere & Company (NYSE:DE)

Balentine LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,701 shares of the industrial products company’s stock, valued at approximately $710,000.

Other large investors also recently made changes to their positions in the company. Pathway Financial Advisers LLC grew its holdings in Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its position in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after acquiring an additional 770,451 shares in the last quarter. Swedbank AB acquired a new position in shares of Deere & Company during the first quarter worth about $191,628,000. Mawer Investment Management Ltd. acquired a new position in Deere & Company during the 2nd quarter worth approximately $166,937,000. Finally, Dimensional Fund Advisors LP lifted its position in 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 buying an additional 279,627 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.3 %

Shares of DE stock opened at $400.30 on Wednesday. The business has a 50-day moving average price of $401.71 and a two-hundred day moving average price of $385.41. Deere & Company has a 12-month low of $340.20 and a 12-month 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 firm has a market cap of $109.52 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Ratings Changes

A number of equities analysts recently commented on DE shares. Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Truist Financial upped their price objective 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. Evercore ISI lifted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

About Deere & Company

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.