Deere & Company $DE Shares Purchased by Truist Financial Corp

Truist Financial Corp grew its position in shares of Deere & Company (NYSE:DE) by 30.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 236,269 shares of the industrial products company’s stock after acquiring an additional 54,967 shares during the period. Truist Financial Corp’s holdings in Deere & Company were worth $120,140,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DE. Activest Wealth Management grew its stake in Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company during the 2nd quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 2nd quarter worth $39,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DE has been the topic of several research reports. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a report on Friday, June 6th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Oppenheimer lowered their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Finally, DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $518.06.

Deere & Company Price Performance

DE stock opened at $456.78 on Wednesday. The stock’s 50 day moving average is $488.06 and its two-hundred day moving average is $489.62. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a market capitalization of $123.48 billion, a PE ratio of 23.88, a P/E/G ratio of 2.99 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.29 earnings per share. Analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

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.