Slow Capital Inc. Grows Stock Position in Deere & Company (NYSE:DE)

Slow Capital Inc. increased its holdings in Deere & Company (NYSE:DE) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,868 shares of the industrial products company’s stock after buying an additional 45 shares during the period. Slow Capital Inc.’s holdings in Deere & Company were worth $3,287,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Park Avenue Securities LLC increased its stake in shares of Deere & Company by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 4,156 shares of the industrial products company’s stock valued at $1,707,000 after acquiring an additional 173 shares during the last quarter. Rockland Trust Co. increased its stake in shares of Deere & Company by 28.3% during the 1st quarter. Rockland Trust Co. now owns 808 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 178 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Deere & Company by 4.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,504 shares of the industrial products company’s stock valued at $620,000 after acquiring an additional 67 shares during the last quarter. Cooper Financial Group increased its stake in shares of Deere & Company by 2.4% during the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 27 shares during the last quarter. Finally, Fort Pitt Capital Group LLC increased its stake in shares of Deere & Company by 12.7% during the 1st quarter. Fort Pitt Capital Group LLC now owns 175,314 shares of the industrial products company’s stock valued at $72,009,000 after acquiring an additional 19,801 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on DE. Morgan Stanley dropped 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 report on Monday, August 26th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Truist Financial increased their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

Deere & Company stock opened at $408.73 on Friday. The stock has a market cap of $112.63 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a 50 day moving average of $393.03 and a 200-day moving average of $385.53. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.20 EPS. On average, analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.