BLB&B Advisors LLC Acquires 528 Shares of Deere & Company (NYSE:DE)

BLB&B Advisors LLC boosted its holdings in Deere & Company (NYSE:DE) by 2.0% during the third quarter, Holdings Channel reports. The fund owned 27,303 shares of the industrial products company’s stock after purchasing an additional 528 shares during the period. BLB&B Advisors LLC’s holdings in Deere & Company were worth $11,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC lifted its holdings in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $37,000. Finally, Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

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

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given 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 dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Analyst Ratings Changes

DE has been the subject of several analyst reports. 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. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. 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 note on Thursday, August 8th. Finally, Truist Financial boosted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $420.69.

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.