BLB&B Advisors LLC Has $11.39 Million Position in Deere & Company (NYSE:DE)

BLB&B Advisors LLC grew its holdings in Deere & Company (NYSE:DE) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,303 shares of the industrial products company’s stock after buying an additional 528 shares during the quarter. BLB&B Advisors LLC’s holdings in Deere & Company were worth $11,394,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in DE. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the second quarter valued at $26,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the third quarter valued at $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR increased its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DE. Oppenheimer dropped their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Raymond James assumed coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Truist Financial upped their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup raised their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Bank of America lifted their price objective 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. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

NYSE DE opened at $406.65 on Wednesday. The company has a market capitalization of $112.06 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The firm’s 50 day moving average is $395.40 and its 200-day moving average is $385.21. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the company earned $10.20 earnings per share. The business’s revenue was down 20.3% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

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.