ASB Consultores LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

ASB Consultores LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 779 shares of the industrial products company’s stock after acquiring an additional 61 shares during the period. ASB Consultores LLC’s holdings in Deere & Company were worth $325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. FSM Wealth Advisors LLC boosted its stake in shares of Deere & Company by 2.4% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,554 shares of the industrial products company’s stock worth $648,000 after purchasing an additional 36 shares during the last quarter. Catalyst Capital Advisors LLC lifted its stake in shares of Deere & Company by 665.0% during the third quarter. Catalyst Capital Advisors LLC now owns 306 shares of the industrial products company’s stock valued at $128,000 after buying an additional 266 shares during the period. Quintet Private Bank Europe S.A. lifted its stake in shares of Deere & Company by 17.6% during the third quarter. Quintet Private Bank Europe S.A. now owns 5,878 shares of the industrial products company’s stock valued at $2,453,000 after buying an additional 879 shares during the period. QRG Capital Management Inc. boosted its position in Deere & Company by 1.8% during the third quarter. QRG Capital Management Inc. now owns 29,970 shares of the industrial products company’s stock worth $12,507,000 after acquiring an additional 538 shares during the last quarter. Finally, National Pension Service grew its stake in Deere & Company by 10.7% in the 3rd quarter. National Pension Service now owns 492,086 shares of the industrial products company’s stock worth $205,362,000 after acquiring an additional 47,518 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.3 %

Deere & Company stock opened at $401.68 on Tuesday. 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 has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The firm has a fifty day moving average price of $401.23 and a two-hundred day moving average price of $385.41. The firm has a market cap of $109.90 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.52 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. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.20 EPS. As a group, analysts forecast 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 paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 20.06%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DE shares. Morgan Stanley reduced 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. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Truist Financial increased 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. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $420.69.

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.