Lowe Brockenbrough & Co. Inc. Boosts Stock Holdings in Deere & Company (NYSE:DE)

Lowe Brockenbrough & Co. Inc. raised its holdings in Deere & Company (NYSE:DE) by 4.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,246 shares of the industrial products company’s stock after purchasing an additional 141 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Deere & Company were worth $1,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Eads & Heald Wealth Management lifted its holdings in Deere & Company by 1.5% in the third quarter. Eads & Heald Wealth Management now owns 1,818 shares of the industrial products company’s stock valued at $759,000 after acquiring an additional 27 shares during the period. Americana Partners LLC lifted its stake in shares of Deere & Company by 2.5% in the third quarter. Americana Partners LLC now owns 1,980 shares of the industrial products company’s stock valued at $826,000 after purchasing an additional 48 shares during the period. Absher Wealth Management LLC boosted its holdings in Deere & Company by 7.1% during the third quarter. Absher Wealth Management LLC now owns 83,666 shares of the industrial products company’s stock worth $34,916,000 after buying an additional 5,557 shares in the last quarter. New York State Common Retirement Fund grew its position in Deere & Company by 11.0% during the third quarter. New York State Common Retirement Fund now owns 379,217 shares of the industrial products company’s stock worth $158,259,000 after buying an additional 37,500 shares during the period. Finally, Aspen Wealth Strategies LLC increased its holdings in Deere & Company by 2.5% in the third quarter. Aspen Wealth Strategies LLC now owns 2,998 shares of the industrial products company’s stock valued at $1,251,000 after buying an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.1 %

Shares of Deere & Company stock opened at $400.42 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The business’s fifty day moving average is $400.85 and its two-hundred day moving average is $385.49. 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 firm has a market cap of $109.55 billion, a PE ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its earnings results 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. The firm 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 firm’s revenue for the quarter 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. Analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is presently 20.06%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DE. Truist Financial boosted their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Deere & Company presently 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.