Deere & Company (NYSE:DE) Stock Position Increased by US Bancorp DE

US Bancorp DE raised its position in Deere & Company (NYSE:DE) by 3.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,765 shares of the industrial products company’s stock after purchasing an additional 8,405 shares during the quarter. US Bancorp DE owned about 0.10% of Deere & Company worth $114,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley boosted its stake in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC lifted its holdings in Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after acquiring an additional 269,571 shares during the last quarter. Norges Bank bought a new position in shares of Deere & Company during the 4th quarter valued at about $1,248,036,000. Northern Trust Corp grew its stake in shares of Deere & Company by 2.5% in the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after purchasing an additional 73,601 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Deere & Company by 11.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock worth $638,167,000 after purchasing an additional 160,369 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.9 %

Shares of NYSE:DE traded down $3.53 on Friday, reaching $375.71. The company had a trading volume of 746,534 shares, compared to its average volume of 1,466,757. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The stock has a 50-day moving average price of $399.93 and a 200 day moving average price of $386.42. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The stock has a market capitalization of $104.58 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.54 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the previous year, the business earned $9.65 earnings per share. The company’s quarterly revenue was down 15.4% on a year-over-year basis. On average, equities analysts expect that Deere & Company will post 25.8 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Friday, March 29th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Evercore ISI increased their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Stifel Nicolaus lifted their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Morgan Stanley upped their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Truist Financial began coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Finally, Daiwa Capital Markets raised their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $432.92.

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.