626 Shares in Deere & Company (NYSE:DE) Acquired by Black Diamond Financial LLC

Black Diamond Financial LLC bought a new position in shares of Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 626 shares of the industrial products company’s stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC Asset Management Inc lifted its position in shares of Deere & Company by 4.0% during the 3rd quarter. CIBC Asset Management Inc now owns 38,074 shares of the industrial products company’s stock worth $15,889,000 after buying an additional 1,474 shares during the period. Sycomore Asset Management raised its position in Deere & Company by 24.2% in the 3rd quarter. Sycomore Asset Management now owns 12,425 shares of the industrial products company’s stock valued at $5,113,000 after purchasing an additional 2,419 shares during the last quarter. Nicola Wealth Management LTD. raised its position in Deere & Company by 6.0% in the 3rd quarter. Nicola Wealth Management LTD. now owns 52,800 shares of the industrial products company’s stock valued at $22,035,000 after purchasing an additional 3,000 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its position in Deere & Company by 24.8% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 10,066 shares of the industrial products company’s stock valued at $4,201,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Deere & Company by 6.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,055 shares of the industrial products company’s stock valued at $2,944,000 after purchasing an additional 449 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DE. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, Truist Financial lifted their target price on Deere & Company from $443.00 to $496.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

DE stock opened at $394.68 on Friday. The business’s 50-day moving average price is $403.47 and its two-hundred day moving average price is $385.64. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $107.98 billion, a PE ratio of 13.47, a P/E/G ratio of 1.48 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

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, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for 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 company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company posted $10.20 earnings per share. As a group, research analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. 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 (DPR) 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.