Victory Capital Management Inc. Buys 2,569 Shares of Deere & Company (NYSE:DE)

Victory Capital Management Inc. raised its holdings in shares of Deere & Company (NYSE:DE) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,110 shares of the industrial products company’s stock after purchasing an additional 2,569 shares during the quarter. Victory Capital Management Inc.’s holdings in Deere & Company were worth $41,779,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Pathway Financial Advisers LLC increased its stake in Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares in the last quarter. International Assets Investment Management LLC increased its stake in Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Swedbank AB bought a new stake in Deere & Company during the 1st quarter valued at $191,628,000. Mawer Investment Management Ltd. bought a new stake in Deere & Company during the 2nd quarter valued at $166,937,000. Finally, Dimensional Fund Advisors LP increased its stake in Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $398.95 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 firm has a market capitalization of $109.15 billion, a PE ratio of 13.59, a P/E/G ratio of 1.48 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a 50-day moving average price of $403.69 and a two-hundred day moving average price of $385.70.

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

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given 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 1.47%. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DE. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Bank of America increased their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Oppenheimer lowered their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $420.69.

Deere & 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.