Vest Financial LLC Buys 1,345 Shares of Deere & Company (NYSE:DE)

Vest Financial LLC raised its position in shares of Deere & Company (NYSE:DE) by 196.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,030 shares of the industrial products company’s stock after acquiring an additional 1,345 shares during the period. Vest Financial LLC’s holdings in Deere & Company were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position 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 worth $5,906,000 after purchasing an additional 2,692 shares during the period. Aviance Capital Partners LLC bought a new position in Deere & Company in the 1st quarter valued at $2,783,000. Royal Fund Management LLC increased its stake in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Deere & Company during the first quarter worth $6,359,000. Finally, Manning & Napier Advisors LLC bought a new position in shares of Deere & Company in the second quarter worth about $24,984,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Truist Financial lifted 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. Finally, Morgan Stanley lowered their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

Shares of NYSE DE opened at $407.05 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a market cap of $112.17 billion, a PE ratio of 12.25, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The business has a 50-day simple moving average of $394.28 and a two-hundred day simple moving average of $385.26.

Deere & Company (NYSE:DE) last released its 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 net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 25.03 EPS 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 given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

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.