Chase Investment Counsel Corp Increases Stock Holdings in Deere & Company (NYSE:DE)

Chase Investment Counsel Corp raised its stake in Deere & Company (NYSE:DE - Free Report) by 53.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,000 shares of the industrial products company's stock after acquiring an additional 1,400 shares during the quarter. Chase Investment Counsel Corp's holdings in Deere & Company were worth $1,669,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC lifted its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company's stock worth $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC bought a new stake in Deere & Company during the second quarter worth $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 3rd quarter valued at $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the second quarter valued at about $37,000. Finally, Centennial Bank AR boosted its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DE shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the stock a "neutral" rating in a report on Friday, October 11th. Truist Financial lifted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Hsbc Global Res downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Finally, Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $420.69.

Deere & Company Stock Down 1.1 %

DE traded down $4.35 during midday trading on Wednesday, hitting $389.40. The company had a trading volume of 1,203,855 shares, compared to its average volume of 1,431,338. The stock's 50 day moving average price is $403.52 and its 200 day moving average price is $385.61. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a market capitalization of $106.54 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.50 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company's quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.20 earnings per share. On average, research analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.51%. Deere & Company's dividend payout ratio (DPR) is presently 20.06%.

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.