AlphaCore Capital LLC Grows Position in Deere & Company (NYSE:DE)

AlphaCore Capital LLC grew its position in shares of Deere & Company (NYSE:DE) by 4.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 4,634 shares of the industrial products company’s stock after acquiring an additional 211 shares during the quarter. AlphaCore Capital LLC’s holdings in Deere & Company were worth $1,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Janus Henderson Group PLC increased its position in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after acquiring an additional 19,200 shares during the last quarter. Legal & General Group Plc lifted its stake in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after buying an additional 114,116 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of Deere & Company by 11.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock worth $559,901,000 after buying an additional 139,336 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 7.7 %

DE opened at $436.28 on Friday. The firm has a market capitalization of $119.37 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. The company’s 50 day simple moving average is $405.95 and its two-hundred day simple moving average is $386.18. Deere & Company has a 1-year low of $340.20 and a 1-year high of $442.05. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the business posted $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. Analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 20.06%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Morgan Stanley reduced their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Truist Financial lifted their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. 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 note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $420.69.

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.