578 Shares in Deere & Company (NYSE:DE) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in Deere & Company (NYSE:DE) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 578 shares of the industrial products company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock worth $710,000 after acquiring an additional 372 shares in the last quarter. Brevan Howard Capital Management LP boosted its stake in shares of Deere & Company by 857.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock worth $3,061,000 after acquiring an additional 6,855 shares in the last quarter. Aviance Capital Partners LLC bought a new stake in shares of Deere & Company during the 1st quarter worth $2,783,000. Finally, Oxford Financial Group LTD. LLC boosted its stake in shares of Deere & Company by 2.9% during the 4th quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 51 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DE shares. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup decreased their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. 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 research report on Friday, August 16th. Finally, Bank of America raised their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $410.50.

Deere & Company Trading Up 0.7 %

NYSE:DE opened at $408.83 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a 50-day moving average price of $376.98 and a 200-day moving average price of $383.12. The stock has a market cap of $112.66 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 1.29 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $10.20 earnings per share. Equities analysts predict that Deere & Company will post 25.07 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. 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 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 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.