Deere & Company (NYSE:DE) Shares Acquired by OFI Invest Asset Management

OFI Invest Asset Management boosted its stake in Deere & Company (NYSE:DE) by 36.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,330 shares of the industrial products company’s stock after acquiring an additional 895 shares during the quarter. OFI Invest Asset Management’s holdings in Deere & Company were worth $1,161,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. True Wealth Design LLC boosted its stake in Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the last quarter. Pineridge Advisors LLC raised its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter worth $29,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.2 %

Shares of NYSE:DE traded up $4.66 during trading on Friday, hitting $377.92. The company’s stock had a trading volume of 2,103,088 shares, compared to its average volume of 1,549,985. The company has a market capitalization of $104.14 billion, a PE ratio of 11.38, a PEG ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. The stock’s 50-day moving average price is $367.47 and its two-hundred day moving average price is $380.45. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $425.42.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 42.26% and a net margin of 16.15%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned $10.20 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Friday, June 28th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a yield of 1.56%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DE has been the topic of several recent analyst reports. Daiwa Capital Markets boosted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Truist Financial restated a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday. DA Davidson lowered their price objective on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. TD Cowen upped their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Finally, Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday. Thirteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $422.35.

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.