Oppenheimer Asset Management Inc. Boosts Stock Holdings in Deere & Company (NYSE:DE)

Oppenheimer Asset Management Inc. boosted its position in shares of Deere & Company (NYSE:DE) by 20.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,808 shares of the industrial products company’s stock after buying an additional 2,692 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Deere & Company were worth $5,906,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares in the last quarter. Janus Henderson Group PLC increased its stake in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Parnassus Investments LLC grew its position in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after purchasing an additional 150,713 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Deere & Company by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after purchasing an additional 114,116 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DE shares. DA Davidson dropped their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Evercore ISI upped their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Morgan Stanley dropped their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Truist Financial restated a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $409.88.

Deere & Company Stock Up 2.0 %

NYSE:DE opened at $394.68 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock’s fifty day moving average is $371.71 and its two-hundred day moving average is $381.63. Deere & Company has a 52 week low of $340.20 and a 52 week high of $417.46. The stock has a market capitalization of $108.76 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping 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 company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the firm earned $10.20 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.

Deere & 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.