Deere & Company (NYSE:DE) Shares Acquired by Douglass Winthrop Advisors LLC

Douglass Winthrop Advisors LLC boosted its position in Deere & Company (NYSE:DE) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 273,207 shares of the industrial products company’s stock after acquiring an additional 7,753 shares during the quarter. Deere & Company accounts for 2.2% of Douglass Winthrop Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Douglass Winthrop Advisors LLC owned 0.10% of Deere & Company worth $114,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. raised its stake in shares of 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 acquiring an additional 2,692 shares during the period. Chase Investment Counsel Corp raised its position in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Balentine LLC acquired a new position in shares of Deere & Company during the third quarter worth about $710,000. Royal Fund Management LLC boosted its position in shares of 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 buying an additional 3,223 shares during the period. Finally, New Century Financial Group LLC acquired a new stake in shares of Deere & Company in the third quarter valued at about $1,052,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 2.1 %

Deere & Company stock opened at $446.65 on Monday. Deere & Company has a one year low of $340.20 and a one year high of $447.50. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market capitalization of $122.20 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.75 and a beta of 0.93. The company has a 50-day simple moving average of $406.99 and a 200-day simple moving average of $386.22.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.26 earnings per share. As a group, equities analysts expect that Deere & Company will post 21.31 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is currently 22.97%.

Wall Street Analyst Weigh In

DE has been the subject of a number of analyst reports. UBS Group upped their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday. Truist Financial raised their price target on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $431.61.

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.