Acropolis Investment Management LLC increased its stake in shares of Deere & Company (NYSE:DE – Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,263 shares of the industrial products company’s stock after purchasing an additional 48 shares during the quarter. Acropolis Investment Management LLC’s holdings in Deere & Company were worth $1,383,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. FMR LLC boosted its position in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC increased its position in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on DE. Oppenheimer upped their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Truist Financial increased their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $441.72.
Deere & Company Stock Performance
Shares of DE stock opened at $432.17 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s fifty day moving average price is $429.20 and its two-hundred day moving average price is $400.87. The firm has a market capitalization of $117.70 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.88 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. The company’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.41 earnings per share for the current fiscal year.
Deere & Company Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.
Deere & Company Profile
Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.
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