Nwam LLC Invests $903,000 in Deere & Company (NYSE:DE)

Nwam LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,164 shares of the industrial products company’s stock, valued at approximately $903,000.

Several other institutional investors also recently bought and sold shares of DE. Pathway Financial Advisers LLC raised its holdings in shares of Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC raised its stake in shares of Deere & Company by 46,892.9% during 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 purchasing an additional 770,451 shares during the period. Swedbank AB acquired a new position in shares of Deere & Company during the first quarter worth $191,628,000. Mawer Investment Management Ltd. purchased a new position in shares of Deere & Company in the second quarter valued at $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Deere & Company during the 3rd quarter valued at $136,936,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 2.1 %

Shares of NYSE DE opened at $446.65 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50. The company has a market cap of $122.20 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. The stock’s 50 day simple moving average is $406.99 and its 200 day simple moving average is $386.36.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 21.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DE shares. Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Truist Financial increased their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. Finally, Evercore ISI raised their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $431.61.

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.