Bessemer Group Inc. Acquires 3,037 Shares of Deere & Company $DE

Bessemer Group Inc. boosted its holdings in shares of Deere & Company (NYSE:DE) by 1.3% during the second quarter, HoldingsChannel reports. The fund owned 243,762 shares of the industrial products company’s stock after purchasing an additional 3,037 shares during the quarter. Bessemer Group Inc.’s holdings in Deere & Company were worth $123,950,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Southland Equity Partners LLC grew its holdings in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after acquiring an additional 20 shares during the last quarter. Vivid Wealth Management LLC boosted its stake in shares of Deere & Company by 1.9% in the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after purchasing an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management boosted its stake in shares of Deere & Company by 3.0% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its stake in shares of Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 21 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.1%

Deere & Company stock opened at $477.76 on Tuesday. 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 has a 12-month low of $387.03 and a 12-month high of $533.78. The firm’s fifty day moving average is $469.62 and its 200 day moving average is $489.44. The company has a market capitalization of $129.15 billion, a PE ratio of 24.97, a PEG ratio of 3.04 and a beta of 1.02.

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

Deere & Company Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Analysts Set New Price Targets

A number of research firms have recently commented on DE. Daiwa Capital Markets reduced their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. DA Davidson reduced their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Zacks Research lowered shares of Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Finally, Truist Financial upped their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $518.72.

About Deere & Company

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.