Mesirow Financial Investment Management Inc. Has $2.38 Million Stake in Deere & Company $DE

Mesirow Financial Investment Management Inc. increased its holdings in Deere & Company (NYSE:DE) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,678 shares of the industrial products company’s stock after buying an additional 45 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Deere & Company were worth $2,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after buying an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Deere & Company by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after buying an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Deere & Company by 1.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock valued at $727,046,000 after buying an additional 25,725 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after buying an additional 256,806 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Wolfe Research decreased their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Zacks Research cut shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Jefferies Financial Group decreased their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Finally, Truist Financial lifted their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Stock Performance

NYSE DE opened at $461.41 on Friday. The firm’s fifty day moving average price is $467.74 and its two-hundred day moving average price is $489.49. The stock has a market cap of $124.73 billion, a PE ratio of 24.12, a PEG ratio of 3.05 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.29 earnings per share. On average, equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

About Deere & Company

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.