Deere & Company (NYSE:DE) Shares Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its holdings in Deere & Company (NYSE:DE) by 11.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,019 shares of the industrial products company’s stock after acquiring an additional 4,466 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Deere & Company were worth $17,560,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Mattern Wealth Management LLC increased its stake in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 25 shares during the period. Carret Asset Management LLC grew its position in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares during the period. Round Rock Advisors LLC grew its position in Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the period. Centaurus Financial Inc. grew its position in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. grew its position in Deere & Company by 0.7% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $443.94 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The stock has a market cap of $121.46 billion, a PE ratio of 17.34, a P/E/G ratio of 1.96 and a beta of 0.96. The firm has a 50-day simple moving average of $417.01 and a two-hundred day simple moving average of $389.92. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

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 $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the business earned $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DE shares. Truist Financial increased their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Barclays increased their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Bank of America increased their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $440.50.

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.