OneAscent Financial Services LLC Invests $1.48 Million in Deere & Company (NYSE:DE)

OneAscent Financial Services LLC acquired a new position in Deere & Company (NYSE:DE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,537 shares of the industrial products company’s stock, valued at approximately $1,476,000. Deere & Company comprises about 1.1% of OneAscent Financial Services LLC’s holdings, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Pathway Financial Advisers LLC lifted its stake in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its position in Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the period. Swedbank AB purchased a new stake in Deere & Company during the 1st quarter valued at about $191,628,000. Mawer Investment Management Ltd. acquired a new position in shares of Deere & Company in the second quarter valued at about $166,937,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Oppenheimer reduced their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Evercore ISI raised their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

Deere & Company stock opened at $404.63 on Tuesday. The company’s fifty day moving average price is $404.38 and its 200 day moving average price is $385.70. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock has a market capitalization of $110.71 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors 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 yield of 1.45%. Deere & Company’s dividend payout ratio is currently 20.06%.

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.