Gries Financial LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

Gries Financial LLC grew its holdings in Deere & Company (NYSE:DE) by 4.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,150 shares of the industrial products company’s stock after buying an additional 50 shares during the period. Gries Financial LLC’s holdings in Deere & Company were worth $540,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DE. Price T Rowe Associates Inc. MD grew its position in Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the last quarter. Capital World Investors lifted its stake in shares of Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after purchasing an additional 157,224 shares during the period. FMR LLC lifted its stake in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC lifted its stake in shares of Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after purchasing an additional 97,203 shares during the period. Finally, Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at $1,244,094,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $496.24 on Tuesday. The company has a market cap of $134.40 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The business has a 50 day moving average price of $512.85 and a 200-day moving average price of $481.48. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period last year, the company earned $8.53 earnings per share. Equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.31%. Deere & Company’s dividend payout ratio is presently 31.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DE. Robert W. Baird upped their price objective on shares of Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Barclays increased their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Truist Financial increased their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Finally, Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $515.50.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.