DT Investment Partners LLC Buys 66 Shares of Deere & Company (NYSE:DE)

DT Investment Partners LLC grew its stake in shares of Deere & Company (NYSE:DE) by 16.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 466 shares of the industrial products company’s stock after acquiring an additional 66 shares during the period. DT Investment Partners LLC’s holdings in Deere & Company were worth $194,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fairscale Capital LLC bought a new stake in Deere & Company during the 2nd quarter valued at $26,000. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the third quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR grew its holdings in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE opened at $411.03 on Friday. The company has a market cap of $113.27 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. 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’s 50-day moving average price is $396.54 and its 200-day moving average price is $385.38. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for 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 quarter in the previous year, the firm earned $10.20 EPS. As a group, equities analysts anticipate that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company 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. 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 dividend payout ratio (DPR) is 17.70%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DE. Citigroup boosted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Morgan Stanley cut their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Truist Financial upped their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company 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.