Deere & Company $DE Position Raised by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC raised its stake in Deere & Company (NYSE:DE) by 3.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,648 shares of the industrial products company’s stock after buying an additional 49 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Deere & Company were worth $838,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after buying an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Deere & Company by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after purchasing an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Deere & Company by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock valued at $727,046,000 after purchasing an additional 25,725 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after purchasing an additional 256,806 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $473.01 on Friday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average of $469.88 and a 200-day moving average of $488.49. The firm has a market cap of $127.87 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02.

Deere & Company (NYSE:DE) last issued 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 firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the business posted $6.29 EPS. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. Truist Financial lifted 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. Oppenheimer cut their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. Citigroup cut their price objective on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Finally, Jefferies Financial Group lowered their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & 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.