Deere & Company (NYSE:DE) Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. increased its holdings in Deere & Company (NYSE:DE) by 10.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,477 shares of the industrial products company’s stock after buying an additional 810 shares during the period. Bridges Investment Management Inc.’s holdings in Deere & Company were worth $3,167,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC boosted its position in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after acquiring an additional 19,200 shares during the period. Parnassus Investments LLC increased its holdings in shares of Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after purchasing an additional 705,771 shares during the period. Dimensional Fund Advisors LP grew its position in Deere & Company by 15.0% in 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 buying an additional 279,627 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after buying an additional 150,713 shares during the period. Institutional investors own 68.58% of the company’s stock.

Insiders Place Their Bets

In other news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value 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 approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several recent analyst reports. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Oppenheimer reduced their target price 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. Finally, Truist Financial reiterated a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $409.88.

Deere & Company Stock Performance

NYSE:DE opened at $405.89 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46. The company has a market cap of $111.85 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.29 and a beta of 0.92. The firm’s 50-day moving average is $376.24 and its 200-day moving average is $382.66. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the company posted $10.20 earnings per share. Deere & Company’s revenue was down 20.3% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend 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.