1,701 Shares in Deere & Company (NYSE:DE) Purchased by Balentine LLC

Balentine LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the third quarter, Holdings Channel reports. The fund bought 1,701 shares of the industrial products company’s stock, valued at approximately $710,000.

Other large investors have also recently made changes to their positions in the company. Mattern Wealth Management LLC boosted its holdings in shares of Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares during the last quarter. Carret Asset Management LLC boosted its holdings in Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the last quarter. Centaurus Financial Inc. grew its position in Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 26 shares during the period. Finally, Legacy Wealth Asset Management LLC grew its holdings in shares of Deere & Company by 1.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 26 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price target 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. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial raised their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

Shares of NYSE:DE opened at $400.30 on Wednesday. The firm has a market cap of $109.52 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.52 and a beta of 0.93. The firm has a fifty day moving average price of $401.71 and a 200 day moving average price of $385.41. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. 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 (NYSE:DE) last released its quarterly earnings data 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 business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.20 EPS. As a group, sell-side analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

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.