600 Shares in Deere & Company (NYSE:DE) Acquired by Smith Thornton Advisors LLC

Smith Thornton Advisors LLC acquired a new stake in Deere & Company (NYSE:DE) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 600 shares of the industrial products company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. grew its stake in shares of Deere & Company by 5.4% in the fourth 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 during the last quarter. 9258 Wealth Management LLC lifted 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 buying an additional 176 shares during the period. Gryphon Financial Partners LLC grew its position in shares of 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 buying an additional 552 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of Deere & Company by 47,533.3% during the fourth quarter. TFO Wealth Partners LLC now owns 1,429 shares of the industrial products company’s stock valued at $571,000 after buying an additional 1,426 shares during the period. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Deere & Company by 4.4% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 3,291 shares of the industrial products company’s stock valued at $1,316,000 after acquiring an additional 140 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DE. Morgan Stanley reduced their price objective 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. Truist Financial reiterated a “buy” rating and set a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Raymond James initiated coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $410.50.

Deere & Company Trading Up 1.6 %

Shares of NYSE:DE opened at $418.06 on Friday. The stock’s fifty day moving average price is $379.51 and its 200-day moving average price is $384.04. Deere & Company has a 1 year low of $340.20 and a 1 year high of $419.63. The company has a market cap of $115.20 billion, a P/E ratio of 12.58, a PEG ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.20 EPS. Sell-side analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. Deere & Company’s dividend payout ratio is presently 17.70%.

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.