D.A. Davidson & CO. Grows Position in Deere & Company (NYSE:DE)

D.A. Davidson & CO. increased its position in Deere & Company (NYSE:DE) by 3.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 76,205 shares of the industrial products company’s stock after acquiring an additional 2,254 shares during the period. D.A. Davidson & CO.’s holdings in Deere & Company were worth $31,803,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DE. Silvercrest Asset Management Group LLC lifted its position in Deere & Company by 4.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 24,060 shares of the industrial products company’s stock valued at $9,882,000 after buying an additional 1,059 shares in the last quarter. Waverly Advisors LLC raised its position in shares of Deere & Company by 107.1% in the 1st quarter. Waverly Advisors LLC now owns 5,020 shares of the industrial products company’s stock valued at $2,062,000 after purchasing an additional 2,596 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Deere & Company in the 1st quarter worth about $904,000. Dynasty Wealth Management LLC bought a new position in Deere & Company during the 1st quarter worth approximately $588,000. Finally, Tidal Investments LLC grew its position in shares of Deere & Company by 2.3% during the 1st quarter. Tidal Investments LLC now owns 29,541 shares of the industrial products company’s stock valued at $12,134,000 after buying an additional 677 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock opened at $462.81 on Tuesday. The stock has a market cap of $126.62 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.75 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a 50 day simple moving average of $408.35 and a 200 day simple moving average of $386.60.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the company earned $8.26 earnings per share. The firm’s revenue was down 32.8% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 21.31 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 22.97%.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent analyst reports. Truist Financial lifted their price target on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday. Citigroup upped their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer increased their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $433.00.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.