Ballast Inc. Boosts Stock Position in Deere & Company (NYSE:DE)

Ballast Inc. boosted its position in shares of Deere & Company (NYSE:DE) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,411 shares of the industrial products company’s stock after acquiring an additional 74 shares during the period. Ballast Inc.’s holdings in Deere & Company were worth $1,424,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fairscale Capital LLC purchased a new position in Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC grew its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Olistico Wealth LLC purchased a new stake in Deere & Company in the 2nd quarter worth $37,000. Centennial Bank AR boosted its holdings in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. grew its position in shares of Deere & Company by 2,500.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 1.0 %

NYSE:DE opened at $405.27 on Friday. The company’s 50-day simple moving average is $391.78 and its 200-day simple moving average is $385.50. 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 has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The stock has a market capitalization of $111.68 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly 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 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%. During the same period in the previous year, the company earned $10.20 earnings per share. The business’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 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid 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 1.45%. Deere & Company’s payout ratio is 17.70%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DE. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Citigroup increased their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Twelve 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, the company currently has an average rating of “Hold” and a consensus target price of $420.69.

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.