Pacer Advisors Inc. Boosts Stake in Deere & Company (NYSE:DE)

Pacer Advisors Inc. boosted its stake in shares of Deere & Company (NYSE:DE) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,998 shares of the industrial products company’s stock after purchasing an additional 425 shares during the period. Pacer Advisors Inc.’s holdings in Deere & Company were worth $7,928,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Pathway Financial Advisers LLC grew its stake in shares of Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its position 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 period. Swedbank AB purchased a new stake in shares of Deere & Company in the first quarter worth $191,628,000. Mawer Investment Management Ltd. bought a new stake in shares of Deere & Company during the 2nd quarter valued at $166,937,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Deere & Company in the 3rd quarter worth $136,936,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 2.1 %

NYSE DE opened at $446.65 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50. The firm has a market capitalization of $122.20 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.70 and a beta of 0.93. The company has a fifty day moving average of $406.99 and a two-hundred day moving average of $386.36.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the company earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 21.41 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. Deere & Company’s payout ratio is 22.97%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial boosted their price target on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $431.61.

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.