Deere & Company (NYSE:DE) Stock Holdings Lifted by AIA Group Ltd

AIA Group Ltd lifted its stake in shares of Deere & Company (NYSE:DE) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 197,559 shares of the industrial products company’s stock after buying an additional 13,757 shares during the quarter. Deere & Company comprises about 2.1% of AIA Group Ltd’s portfolio, making the stock its 6th largest holding. AIA Group Ltd’s holdings in Deere & Company were worth $82,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First National Bank & Trust Co. of Newtown lifted its stake in shares of Deere & Company by 1.8% in the 3rd quarter. First National Bank & Trust Co. of Newtown now owns 1,692 shares of the industrial products company’s stock worth $706,000 after acquiring an additional 30 shares during the period. Hudson Value Partners LLC boosted its holdings in Deere & Company by 10.6% in the 3rd quarter. Hudson Value Partners LLC now owns 6,520 shares of the industrial products company’s stock valued at $2,721,000 after purchasing an additional 627 shares in the last quarter. Sittner & Nelson LLC raised its stake in shares of Deere & Company by 7.2% during the 3rd quarter. Sittner & Nelson LLC now owns 446 shares of the industrial products company’s stock worth $186,000 after buying an additional 30 shares in the last quarter. Valley Brook Capital Group Inc. lifted its holdings in shares of Deere & Company by 3.6% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 5,124 shares of the industrial products company’s stock valued at $2,138,000 after buying an additional 176 shares during the period. Finally, Washington Trust Bank boosted its stake in shares of Deere & Company by 0.7% in the third quarter. Washington Trust Bank now owns 30,131 shares of the industrial products company’s stock valued at $12,575,000 after buying an additional 200 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. 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 report on Wednesday, October 9th. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Trading Up 1.3 %

Shares of Deere & Company stock opened at $411.16 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The business’s fifty day moving average is $402.27 and its two-hundred day moving average is $385.56. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market cap of $112.49 billion, a PE ratio of 14.03, a P/E/G ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the firm posted $10.20 earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio 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.