Ignite Planners LLC Purchases New Stake in Deere & Company (NYSE:DE)

Ignite Planners LLC purchased a new stake in Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 490 shares of the industrial products company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. grew its position in Deere & Company by 20.5% in the second 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 last quarter. Harbor Investment Advisory LLC grew its position in Deere & Company by 27.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after acquiring an additional 372 shares during the last quarter. Brevan Howard Capital Management LP grew its position in Deere & Company by 857.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock valued at $3,061,000 after acquiring an additional 6,855 shares during the last quarter. Aviance Capital Partners LLC bought a new position in Deere & Company in the first quarter valued at about $2,783,000. Finally, Oxford Financial Group LTD. LLC grew its holdings in shares of Deere & Company by 2.9% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $400.34 on Wednesday. The firm has a market cap of $110.32 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The business’s 50 day moving average price is $383.66 and its two-hundred day moving average price is $385.15.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 earnings per share. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Ratings Changes

Several research firms have recently weighed in on DE. Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Citigroup reduced their price target on Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Truist Financial restated a “buy” rating and set a $443.00 price target (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $410.50.

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.