Deere & Company (NYSE:DE) Shares Bought by First Affirmative Financial Network

First Affirmative Financial Network raised its stake in shares of Deere & Company (NYSE:DE) by 32.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 771 shares of the industrial products company’s stock after purchasing an additional 191 shares during the period. First Affirmative Financial Network’s holdings in Deere & Company were worth $322,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DE. Fairscale Capital LLC acquired a new stake in Deere & Company in the 2nd quarter worth about $26,000. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the fourth quarter worth approximately $30,000. Spartan Planning & Wealth Management purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $33,000. Finally, Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

Shares of DE opened at $411.08 on Friday. The firm has a 50-day simple moving average of $387.01 and a two-hundred day simple moving average of $385.44. The stock has a market cap of $113.28 billion, a PE ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. During the same quarter last year, the firm earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is presently 17.70%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.