Creekside Partners Invests $422,000 in Deere & Company (NYSE:DE)

Creekside Partners acquired a new position in shares of Deere & Company (NYSE:DE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,130 shares of the industrial products company’s stock, valued at approximately $422,000.

Several other large investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its holdings in Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after buying an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC raised its position in Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after purchasing an additional 372 shares during the last quarter. Brevan Howard Capital Management LP lifted its position in shares of Deere & Company by 857.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after purchasing an additional 6,855 shares during the period. Aviance Capital Partners LLC bought a new stake in shares of Deere & Company in the 1st quarter valued at $2,783,000. Finally, Oxford Financial Group LTD. LLC grew its stake in Deere & Company by 2.9% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 51 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $416.47 on Wednesday. The firm has a fifty day simple moving average of $381.16 and a two-hundred day simple moving average of $384.65. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. 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 has a market capitalization of $114.77 billion, a P/E ratio of 12.54, a PEG ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm posted $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Ratings Changes

Several analysts have recently commented on DE shares. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Truist Financial reiterated a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Raymond James began coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $410.50.

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.