Gilbert & Cook Inc. Boosts Stake in Deere & Company $DE

Gilbert & Cook Inc. lifted its stake in shares of Deere & Company (NYSE:DE) by 8.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,600 shares of the industrial products company’s stock after acquiring an additional 199 shares during the period. Gilbert & Cook Inc.’s holdings in Deere & Company were worth $1,322,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DE. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company in the 2nd quarter worth about $25,000. Activest Wealth Management raised its holdings in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new stake in Deere & Company in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its stake in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company in the second quarter worth approximately $38,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of several research reports. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. UBS Group restated a “buy” rating on shares of Deere & Company in a research report on Tuesday. Truist Financial raised their price objective on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wolfe Research lowered their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Citigroup reduced their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Stock Performance

Deere & Company stock opened at $461.41 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average of $467.74 and a 200-day moving average of $489.69. The firm has a market cap of $124.73 billion, a P/E ratio of 24.12, a P/E/G ratio of 3.05 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued 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 is Tuesday, September 30th. Deere & Company’s dividend payout ratio is currently 33.87%.

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.