Sunbelt Securities Inc. Buys 192 Shares of Deere & Company (NYSE:DE)

Sunbelt Securities Inc. increased its stake in Deere & Company (NYSE:DE) by 29.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 847 shares of the industrial products company’s stock after purchasing an additional 192 shares during the quarter. Sunbelt Securities Inc.’s holdings in Deere & Company were worth $354,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Stockbridge Partners LLC boosted its holdings in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the period. Oppenheimer Asset Management Inc. lifted its position in 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 during the last quarter. Toronto Dominion Bank boosted its holdings in Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after acquiring an additional 1,291 shares during the period. Chase Investment Counsel Corp grew its position in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Balentine LLC bought a new position in shares of Deere & Company in the third quarter worth about $710,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DE shares. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Truist Financial raised their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Oppenheimer increased their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $443.28.

Deere & Company Trading Up 0.2 %

Deere & Company stock opened at $440.45 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The firm has a 50-day moving average of $420.61 and a 200-day moving average of $392.50. The company has a market cap of $120.51 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.91 and a beta of 0.96. Deere & Company has a one year low of $340.20 and a one year high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the firm posted $8.26 EPS. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. On average, equities analysts expect that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

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.