Whitener Capital Management Inc. Raises Position in Deere & Company (NYSE:DE)

Whitener Capital Management Inc. lifted its stake in Deere & Company (NYSE:DE) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,114 shares of the industrial products company’s stock after purchasing an additional 319 shares during the quarter. Deere & Company comprises 0.8% of Whitener Capital Management Inc.’s portfolio, making the stock its 29th biggest holding. Whitener Capital Management Inc.’s holdings in Deere & Company were worth $2,969,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after acquiring an additional 19,200 shares during the last quarter. Legal & General Group Plc boosted its holdings in Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares during the period. Dimensional Fund Advisors LP grew its position in Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after purchasing an additional 114,116 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DE shares. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Truist Financial upped their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Morgan Stanley lowered their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 1.1 %

NYSE:DE opened at $400.42 on Friday. The company’s 50-day simple moving average is $400.85 and its 200-day simple moving average is $385.49. 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 $109.55 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its earnings results 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. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the firm earned $10.20 earnings per share. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 annualized dividend and a yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Deere & 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.