KBC Group NV Grows Stake in Deere & Company $DE

KBC Group NV grew its holdings in shares of Deere & Company (NYSE:DE) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,136 shares of the industrial products company’s stock after purchasing an additional 882 shares during the period. KBC Group NV’s holdings in Deere & Company were worth $49,901,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Southland Equity Partners LLC increased its position in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after buying an additional 20 shares in the last quarter. Vivid Wealth Management LLC grew its stake in shares of Deere & Company by 1.9% during the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after acquiring an additional 20 shares during the last quarter. Werba Rubin Papier Wealth Management grew its stake in shares of Deere & Company by 3.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after acquiring an additional 20 shares during the last quarter. Prairie Wealth Advisors Inc. increased its holdings in shares of Deere & Company by 2.1% during the second quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after acquiring an additional 20 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DE shares. Truist Financial boosted their target price on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. Oppenheimer reduced their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Finally, JPMorgan Chase & Co. dropped their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Stock Performance

DE opened at $479.22 on Thursday. The firm has a fifty day moving average price of $466.00 and a 200 day moving average price of $490.69. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a market cap of $129.55 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.05 and a beta of 1.04. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.29 earnings per share. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Tuesday, September 30th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Deere & Company’s payout ratio is currently 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.