Loomis Sayles & Co. L P Cuts Position in Deere & Company (NYSE:DE)

Loomis Sayles & Co. L P lowered its stake in shares of Deere & Company (NYSE:DE) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 780,799 shares of the industrial products company’s stock after selling 21,629 shares during the period. Loomis Sayles & Co. L P owned about 0.29% of Deere & Company worth $325,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. boosted its position in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Chase Investment Counsel Corp raised its stake in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares during the last quarter. Balentine LLC purchased a new stake in shares of Deere & Company in the 3rd quarter worth about $710,000. Royal Fund Management LLC grew its stake in Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC acquired a new position in Deere & Company during the third quarter worth about $1,052,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $431.61.

Deere & Company Price Performance

DE stock opened at $446.65 on Monday. The company has a market cap of $122.20 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average price of $406.99 and a two-hundred day moving average price of $386.22. Deere & Company has a 12-month low of $340.20 and a 12-month high of $447.50.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the company earned $8.26 EPS. The firm’s revenue was down 32.8% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 21.31 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is currently 22.97%.

Deere & Company 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.