Simmons Bank Purchases 255 Shares of Deere & Company (NYSE:DE)

Simmons Bank raised its position in shares of Deere & Company (NYSE:DE) by 1.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,545 shares of the industrial products company’s stock after purchasing an additional 255 shares during the quarter. Simmons Bank’s holdings in Deere & Company were worth $8,991,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Headlands Technologies LLC purchased a new stake in shares of Deere & Company during the 1st quarter valued at about $138,000. Entropy Technologies LP bought a new stake in shares of Deere & Company in the first quarter worth $1,637,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Deere & Company by 1.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 128,196 shares of the industrial products company’s stock valued at $52,655,000 after acquiring an additional 1,232 shares during the last quarter. Angeles Wealth Management LLC bought a new position in Deere & Company in the first quarter valued at about $244,000. Finally, Beacon Investment Advisory Services Inc. boosted its position in Deere & Company by 167.9% in the first quarter. Beacon Investment Advisory Services Inc. now owns 2,071 shares of the industrial products company’s stock worth $851,000 after purchasing an additional 1,298 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DE. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Truist Financial upped their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, BMO Capital Markets started coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

DE stock opened at $393.83 on Wednesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm has a market capitalization of $107.75 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.93. The company has a fifty day simple moving average of $403.52 and a two-hundred day simple moving average of $385.61. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates 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 was down 20.3% on a year-over-year basis. During the same quarter last year, the business posted $10.20 earnings per share. Analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared 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 of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio is presently 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.