BCM Advisors LLC Buys 29 Shares of Deere & Company (NYSE:DE)

BCM Advisors LLC raised its position in shares of Deere & Company (NYSE:DE) by 0.5% during the third quarter, HoldingsChannel reports. The fund owned 5,548 shares of the industrial products company’s stock after acquiring an additional 29 shares during the quarter. BCM Advisors LLC’s holdings in Deere & Company were worth $2,229,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of DE. Cable Hill Partners LLC bought a new position in shares of Deere & Company during the third quarter valued at approximately $214,000. Bell Bank boosted its holdings in Deere & Company by 2.1% during the 3rd quarter. Bell Bank now owns 2,346 shares of the industrial products company’s stock valued at $979,000 after acquiring an additional 48 shares during the period. Firetrail Investments PTY Ltd. bought a new position in Deere & Company in the 3rd quarter valued at $10,242,000. Main Street Financial Solutions LLC purchased a new stake in Deere & Company in the third quarter worth $1,021,000. Finally, Kovack Advisors Inc. lifted its position in shares of Deere & Company by 125.1% during the third quarter. Kovack Advisors Inc. now owns 1,877 shares of the industrial products company’s stock worth $784,000 after purchasing an additional 1,043 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $389.45 on Thursday. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The firm has a market cap of $106.55 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a 50-day simple moving average of $403.52 and a two-hundred day simple moving average of $385.61.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Truist Financial upped their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.