Los Angeles Capital Management LLC Raises Stock Holdings in Deere & Company $DE

Los Angeles Capital Management LLC grew its holdings in Deere & Company (NYSE:DE) by 691.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,924 shares of the industrial products company’s stock after buying an additional 8,670 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Deere & Company were worth $5,046,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Prospera Financial Services Inc grew its stake in Deere & Company by 51.3% in the 2nd quarter. Prospera Financial Services Inc now owns 19,714 shares of the industrial products company’s stock valued at $10,031,000 after acquiring an additional 6,687 shares during the period. AE Wealth Management LLC lifted its holdings in Deere & Company by 3.6% during the second quarter. AE Wealth Management LLC now owns 7,842 shares of the industrial products company’s stock valued at $3,989,000 after purchasing an additional 269 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Deere & Company in the second quarter valued at about $1,324,000. Summit Wealth & Retirement Planning Inc. acquired a new stake in shares of Deere & Company in the second quarter valued at about $287,000. Finally, Penserra Capital Management LLC increased its stake in shares of Deere & Company by 11.1% during the second quarter. Penserra Capital Management LLC now owns 1,366 shares of the industrial products company’s stock worth $694,000 after purchasing an additional 136 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DE. Daiwa Capital Markets decreased their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Truist Financial increased their target price on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. dropped their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Jefferies Financial Group reduced their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research note on Wednesday, October 8th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Stock Down 1.8%

Shares of NYSE:DE opened at $466.98 on Monday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market cap of $126.24 billion, a P/E ratio of 24.41, a PEG ratio of 3.05 and a beta of 1.04. The business has a fifty day moving average of $465.84 and a two-hundred day moving average of $490.56. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company Announces Dividend

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

About Deere & Company

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.