Capital Investment Counsel LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Capital Investment Counsel LLC raised its holdings in Deere & Company (NYSE:DE) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,945 shares of the industrial products company’s stock after buying an additional 642 shares during the period. Capital Investment Counsel LLC’s holdings in Deere & Company were worth $6,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of Deere & Company by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Legal & General Group Plc lifted its position in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Deere & Company by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after purchasing an additional 114,116 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its position in shares of Deere & Company by 11.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock worth $559,901,000 after purchasing an additional 139,336 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock opened at $446.65 on Friday. The company has a market cap of $122.20 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. Deere & Company has a one year low of $340.20 and a one year high of $447.50. The business has a fifty day moving average of $406.99 and a two-hundred day moving average of $386.36. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.87 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 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 firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter last year, the business earned $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is currently 22.97%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DE shares. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Oppenheimer lifted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Truist Financial lifted their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. Finally, Morgan Stanley decreased their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $431.61.

Deere & Company 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.