Grandfield & Dodd LLC Invests $913,000 in Deere & Company $DE

Grandfield & Dodd LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,439 shares of the industrial products company’s stock, valued at approximately $913,000.

A number of other hedge funds have also bought and sold shares of DE. BlackRock Inc. acquired a new stake in Deere & Company during the second quarter valued at approximately $11,763,504,000. Norges Bank bought a new position in Deere & Company during the 4th quarter worth approximately $1,715,633,000. Capital World Investors grew its position in shares of Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock worth $4,465,906,000 after acquiring an additional 3,358,264 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Deere & Company in the 2nd quarter worth approximately $1,259,279,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Deere & Company by 1,725.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after acquiring an additional 1,893,972 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DE. Bank of America dropped their price target on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Truist Financial lifted their price objective on shares of Deere & Company from $759.00 to $812.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research note on Friday. Royal Bank Of Canada reissued an “outperform” rating and set a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Sunday, July 5th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $641.98.

Deere & Company Stock Down 1.4%

Shares of Deere & Company stock opened at $600.08 on Tuesday. The stock has a market capitalization of $161.99 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 2.57 and a beta of 0.90. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The business’s 50 day simple moving average is $603.76 and its 200-day simple moving average is $588.84.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.64 EPS. Equities research analysts forecast that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.