National Pension Service Buys 2,816 Shares of Deere & Company $DE

National Pension Service raised its stake in Deere & Company (NYSE:DE) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 634,248 shares of the industrial products company’s stock after purchasing an additional 2,816 shares during the quarter. National Pension Service’s holdings in Deere & Company were worth $402,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in Deere & Company in the 2nd quarter valued at $27,000. Kilter Group LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth $29,000. Solstein Capital LLC purchased a new stake in shares of Deere & Company in the second quarter valued at about $30,000. Orion Capital Management LLC bought a new position in shares of Deere & Company during the second quarter valued at about $32,000. Finally, Markowski Investments purchased a new position in Deere & Company during the second quarter worth about $34,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $677.52 on Thursday. The firm has a market cap of $182.67 billion, a PE ratio of 37.64, a PEG ratio of 2.81 and a beta of 0.90. The stock’s fifty day moving average price is $622.35 and its two-hundred day moving average price is $597.71. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. Deere & Company has a 1 year low of $433.00 and a 1 year high of $705.88.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%.The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the prior year, the company earned $4.75 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Analyst Ratings Changes

DE has been the subject of several analyst reports. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $640.00 to $800.00 in a research note on Monday, August 31st. UBS Group decreased their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Truist Financial cut their price objective on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research report on Monday, August 24th. Raymond James Financial raised their target price on Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Finally, Seaport Research Partners set a $570.00 target price on Deere & Company in a research note on Friday, August 14th. Sixteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $680.73.

About Deere & Company

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.