Deere & Company (NYSE:DE) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP lifted its position in shares of Deere & Company (NYSE:DE) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,952 shares of the industrial products company’s stock after acquiring an additional 69 shares during the quarter. Forum Financial Management LP’s holdings in Deere & Company were worth $5,405,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the second quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company in the 3rd quarter valued at $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR grew its stake in 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 acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several recent research reports. Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Morgan Stanley cut their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Trading Down 1.1 %

Deere & Company stock opened at $400.42 on Monday. The firm has a 50-day moving average price of $400.85 and a two-hundred day moving average price of $385.41. The firm has a market capitalization of $109.55 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $10.20 earnings per share. Sell-side analysts expect that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued 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 (DPR) is currently 20.06%.

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.