2,520 Shares in Deere & Company (NYSE:DE) Bought by New Century Financial Group LLC

New Century Financial Group LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,520 shares of the industrial products company’s stock, valued at approximately $1,052,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the 2nd quarter worth $26,000. Pineridge Advisors LLC raised its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Olistico Wealth LLC acquired a new position in Deere & Company during the 2nd quarter worth $37,000. Centennial Bank AR grew its position in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. lifted its position in shares of Deere & Company by 2,500.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Citigroup upped their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Morgan Stanley cut their price objective 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 cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Truist Financial upped their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $408.73 on Friday. The business has a fifty day moving average of $393.03 and a 200-day moving average of $385.40. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The firm has a market cap of $112.63 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $10.94 billion. During the same period in the previous year, the firm posted $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. On average, equities research analysts predict 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. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. Deere & Company’s payout ratio is 17.70%.

Deere & 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.