PSI Advisors LLC Buys 80 Shares of Deere & Company (NYSE:DE)

PSI Advisors LLC lifted its stake in Deere & Company (NYSE:DE) by 4.2% during the third quarter, HoldingsChannel reports. The firm owned 1,998 shares of the industrial products company’s stock after purchasing an additional 80 shares during the period. PSI Advisors LLC’s holdings in Deere & Company were worth $834,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DE. International Assets Investment Management LLC grew its holdings in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Swedbank AB bought a new position in shares of Deere & Company in the first quarter worth about $191,628,000. Mawer Investment Management Ltd. bought a new position in shares of Deere & Company in the second quarter worth about $166,937,000. Dimensional Fund Advisors LP grew its holdings in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DE shares. 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 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 report on Wednesday, October 9th. Citigroup increased their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Up 0.5 %

DE stock opened at $408.64 on Thursday. Deere & Company has a one year low of $340.20 and a one year 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. The firm’s fifty day moving average is $396.54 and its 200 day moving average is $385.38. The firm has a market cap of $112.61 billion, a PE ratio of 12.30, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) 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 business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the company posted $10.20 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend 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.