Chase Investment Counsel Corp Increases Stock Holdings in Deere & Company (NYSE:DE)

Chase Investment Counsel Corp raised its holdings in shares of Deere & Company (NYSE:DE) by 53.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the industrial products company’s stock after buying an additional 1,400 shares during the quarter. Chase Investment Counsel Corp’s holdings in Deere & Company were worth $1,669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its stake in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares in the last quarter. Balentine LLC purchased a new position in Deere & Company in the 3rd quarter worth approximately $710,000. Royal Fund Management LLC boosted its stake in shares of Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares during the period. New Century Financial Group LLC purchased a new position in shares of Deere & Company in the third quarter worth $1,052,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Deere & Company during the 2nd quarter valued at $24,984,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DE has been the subject of a number of analyst reports. 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 report on Wednesday, October 9th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI lifted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

Shares of NYSE:DE opened at $393.83 on Wednesday. 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 market cap of $107.75 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The business has a 50-day simple moving average of $403.52 and a two-hundred day simple moving average of $385.61. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the firm posted $10.20 earnings per share. On average, analysts expect that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

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.