Cardinal Capital Management Buys 275 Shares of Deere & Company (NYSE:DE)

Cardinal Capital Management raised its holdings in shares of Deere & Company (NYSE:DE) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,475 shares of the industrial products company’s stock after acquiring an additional 275 shares during the quarter. Deere & Company makes up about 1.8% of Cardinal Capital Management’s investment portfolio, making the stock its 11th biggest position. Cardinal Capital Management’s holdings in Deere & Company were worth $11,506,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Lantz Financial LLC grew its position in shares of Deere & Company by 15.9% during the first quarter. Lantz Financial LLC now owns 699 shares of the industrial products company’s stock valued at $287,000 after purchasing an additional 96 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in Deere & Company by 7.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 677 shares of the industrial products company’s stock valued at $278,000 after buying an additional 44 shares in the last quarter. Park Avenue Securities LLC grew its holdings in Deere & Company by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 4,156 shares of the industrial products company’s stock valued at $1,707,000 after buying an additional 173 shares in the last quarter. Allied Investment Advisors LLC increased its stake in Deere & Company by 4.4% in the 1st quarter. Allied Investment Advisors LLC now owns 25,283 shares of the industrial products company’s stock worth $10,385,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in shares of Deere & Company by 0.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 22,978 shares of the industrial products company’s stock worth $9,437,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.0 %

DE stock opened at $405.27 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The firm’s 50-day moving average is $391.78 and its 200 day moving average is $385.50. The company has a market capitalization of $111.68 billion, a PE ratio of 12.20, a P/E/G ratio of 1.35 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 issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for 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 company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company posted $10.20 earnings per share. On average, research analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

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 dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DE shares. Morgan Stanley reduced their price target 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. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

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.