Deere & Company $DE Shares Bought by Candriam S.C.A.

Candriam S.C.A. lifted its stake in shares of Deere & Company (NYSE:DE) by 73.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,820 shares of the industrial products company’s stock after buying an additional 14,349 shares during the quarter. Candriam S.C.A.’s holdings in Deere & Company were worth $17,198,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in DE. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Deere & Company by 2.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 37,124 shares of the industrial products company’s stock valued at $18,877,000 after purchasing an additional 841 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Deere & Company by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after buying an additional 111,627 shares during the last quarter. ABC Arbitrage SA bought a new position in Deere & Company during the 2nd quarter worth approximately $1,103,000. United Asset Strategies Inc. grew its position in shares of Deere & Company by 33.5% in the 2nd quarter. United Asset Strategies Inc. now owns 7,097 shares of the industrial products company’s stock worth $3,609,000 after acquiring an additional 1,780 shares in the last quarter. Finally, Tobam bought a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $123,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.5%

DE stock opened at $473.54 on Friday. 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 fifty-two week low of $387.79 and a fifty-two week high of $533.78. The firm’s 50-day simple moving average is $465.98 and its 200 day simple moving average is $490.57. The stock has a market cap of $128.01 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted 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 firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the business posted $6.29 EPS. Deere & Company’s revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Tuesday, September 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Upgrades and Downgrades

DE has been the topic of several research analyst reports. DA Davidson reduced their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Oppenheimer lowered their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. UBS Group reaffirmed a “buy” rating on shares of Deere & Company in a report on Tuesday, October 28th. Finally, Truist Financial increased their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average price target of $520.00.

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.