American Century Companies Inc. Purchases 22,160 Shares of Deere & Company (NYSE:DE)

American Century Companies Inc. boosted its position in shares of Deere & Company (NYSE:DE) by 9.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 250,298 shares of the industrial products company’s stock after buying an additional 22,160 shares during the quarter. American Century Companies Inc. owned approximately 0.09% of Deere & Company worth $93,519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Deere & Company by 15.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock worth $841,000 after purchasing an additional 288 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Deere & Company by 5.4% in the 4th quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 102 shares in the last quarter. 9258 Wealth Management LLC raised its holdings in Deere & Company by 9.8% in the 4th quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after purchasing an additional 176 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in Deere & Company by 62.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,430 shares of the industrial products company’s stock worth $551,000 after purchasing an additional 552 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Deere & Company in the 4th quarter worth $380,000. 68.58% of the stock is currently owned by institutional investors.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of several research reports. Oppenheimer decreased their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Evercore ISI upped 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. Truist Financial reaffirmed a “buy” rating and issued a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Finally, BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $414.11.

Deere & Company Stock Performance

Shares of NYSE DE opened at $394.68 on Friday. The firm’s 50-day moving average price is $371.71 and its 200-day moving average price is $381.51. 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 company has a market cap of $107.98 billion, a PE ratio of 11.88, a PEG ratio of 1.29 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the business earned $10.20 EPS. The business’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 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.