Deere & Company $DE Stock Purchased by Trek Financial LLC

Trek Financial LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 236.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,412 shares of the industrial products company’s stock after buying an additional 3,804 shares during the period. Trek Financial LLC’s holdings in Deere & Company were worth $3,635,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DE. BlackRock Inc. bought a new position in Deere & Company in the second quarter valued at approximately $11,763,504,000. Bank of America Corp DE bought a new stake in shares of Deere & Company during the 2nd quarter worth approximately $1,685,093,000. Bank of New York Mellon Corp acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $1,259,279,000. Legal & General Group Plc acquired a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $957,456,000. Finally, Wellington Management Group LLP grew its stake in shares of Deere & Company by 84.3% in the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after buying an additional 1,412,694 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE opened at $667.06 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $179.85 billion, a P/E ratio of 35.59, a P/E/G ratio of 2.34 and a beta of 0.86. Deere & Company has a 12 month low of $454.50 and a 12 month high of $721.22. The stock has a 50 day moving average of $664.16 and a 200-day moving average of $605.00.

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, beating analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the prior year, the business earned $4.75 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts predict that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s payout ratio is currently 36.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DE. Bank of America boosted their target price on shares of Deere & Company from $667.00 to $715.00 in a report on Thursday, September 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research note on Monday, August 24th. Oppenheimer lifted their price objective on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Barclays boosted their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Finally, Truist Financial dropped their target price on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a report on Monday, August 24th. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.