Deere & Company (NYSE:DE) Stake Lessened by Optimum Investment Advisors

Optimum Investment Advisors lessened its stake in Deere & Company (NYSE:DE) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,430 shares of the industrial products company’s stock after selling 267 shares during the period. Optimum Investment Advisors’ holdings in Deere & Company were worth $1,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Swedbank AB acquired a new position in Deere & Company in the first quarter worth $191,628,000. Mawer Investment Management Ltd. acquired a new position in Deere & Company in the second quarter worth $166,937,000. Dimensional Fund Advisors LP boosted its holdings in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the period. Vanguard Group Inc. boosted its holdings in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC boosted its holdings in Deere & Company by 28,306.5% in the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock worth $934,000 after purchasing an additional 249,097 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE stock opened at $405.27 on Friday. 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 company has a 50-day simple moving average of $391.78 and a 200 day simple moving average of $385.50. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a market capitalization of $111.68 billion, a P/E ratio of 12.20, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued 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. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the business earned $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Sell-side analysts predict that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Finally, Truist Financial boosted their price target 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. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.