Sustainable Insight Capital Management LLC Acquires 1,727 Shares of Deere & Company (NYSE:DE)

Sustainable Insight Capital Management LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 24.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,886 shares of the industrial products company’s stock after buying an additional 1,727 shares during the quarter. Deere & Company accounts for approximately 1.7% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Sustainable Insight Capital Management LLC’s holdings in Deere & Company were worth $3,708,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter worth about $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company during the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% during the 2nd 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 during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial raised their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

Deere & Company stock opened at $394.06 on Friday. 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 twelve month low of $340.20 and a twelve month high of $420.47. The company’s 50-day moving average price is $403.02 and its 200-day moving average price is $385.69. The company has a market cap of $107.81 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $10.20 earnings per share. On average, equities research analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

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.