Haverford Trust Co Buys 478 Shares of Deere & Company (NYSE:DE)

Haverford Trust Co grew its holdings in shares of Deere & Company (NYSE:DE) by 11.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,626 shares of the industrial products company’s stock after buying an additional 478 shares during the quarter. Haverford Trust Co’s holdings in Deere & Company were worth $1,931,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its position in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the period. Balentine LLC purchased a new stake in shares of Deere & Company during the 3rd quarter valued at approximately $710,000. Royal Fund Management LLC increased its holdings in Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares during the last quarter. New Century Financial Group LLC acquired a new position in shares of Deere & Company in the third quarter worth $1,052,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Deere & Company during the second quarter worth $24,984,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial boosted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. upped 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

DE opened at $389.45 on Thursday. The company has a fifty day simple moving average of $403.52 and a 200 day simple moving average of $385.61. The firm has a market cap of $106.55 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the business earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.51%. Deere & Company’s dividend payout ratio is presently 20.06%.

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.