Deere & Company $DE Position Boosted by May Hill Capital LLC

May Hill Capital LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 10.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 477 shares of the industrial products company’s stock after acquiring an additional 47 shares during the quarter. May Hill Capital LLC’s holdings in Deere & Company were worth $243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Nuveen LLC purchased a new position in Deere & Company during the 1st quarter valued at about $571,073,000. TD Asset Management Inc grew its stake in shares of Deere & Company by 132.0% in the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after buying an additional 410,636 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after buying an additional 256,806 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on DE shares. Daiwa Capital Markets lowered their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Truist Financial boosted their price target on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada started coverage on Deere & Company in a research note on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 price target for the company. DA Davidson lowered their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Finally, Wolfe Research lowered their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Trading Down 2.0%

Shares of NYSE:DE opened at $468.59 on Wednesday. The company has a market cap of $126.67 billion, a P/E ratio of 24.49, a P/E/G ratio of 3.08 and a beta of 1.02. The stock’s 50-day moving average is $469.21 and its 200-day moving average is $489.60. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the business posted $6.29 earnings per share. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.