Holderness Investments Co. Boosts Holdings in Deere & Company (NYSE:DE)

Holderness Investments Co. raised its holdings in shares of Deere & Company (NYSE:DE) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,398 shares of the industrial products company’s stock after buying an additional 168 shares during the period. Holderness Investments Co.’s holdings in Deere & Company were worth $896,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DE. Vanguard Group Inc. raised its holdings in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC raised its stake in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after buying an additional 19,200 shares during the period. Parnassus Investments LLC lifted its position in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Deere & Company by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after acquiring an additional 150,713 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DE shares. Raymond James started coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Evercore ISI raised their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft dropped their price objective 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, JPMorgan Chase & Co. decreased their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $409.88.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $405.89 on Friday. The firm has a fifty day simple moving average of $376.24 and a two-hundred day simple moving average of $382.77. 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 stock has a market capitalization of $111.85 billion, a P/E ratio of 12.22, 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 released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the business posted $10.20 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25.07 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced 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. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

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.