Ferguson Wellman Capital Management Inc. Has $4.20 Million Holdings in Deere & Company (NYSE:DE)

Ferguson Wellman Capital Management Inc. lifted its position in shares of Deere & Company (NYSE:DE - Free Report) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,066 shares of the industrial products company's stock after buying an additional 2,000 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Deere & Company were worth $4,201,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Fairscale Capital LLC acquired a new position in shares of Deere & Company in the second quarter worth about $26,000. Pineridge Advisors LLC boosted its stake 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 valued at $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the third quarter worth $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the second quarter valued at $37,000. Finally, Centennial Bank AR boosted its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE DE traded up $5.23 on Thursday, reaching $394.68. 1,224,979 shares of the stock traded hands, compared to its average volume of 1,432,701. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $107.98 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.50 and a beta of 0.93. The firm's fifty day simple moving average is $403.47 and its 200 day simple moving average is $385.64. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47.

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

Deere & Company Announces Dividend

The company also recently announced 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 1.49%. Deere & Company's payout ratio is presently 20.06%.

Analyst Ratings Changes

DE has been the topic of several research analyst reports. Truist Financial increased their price target 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. JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the company a "neutral" rating in a report on Friday, October 11th. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They set a "market perform" rating and a $400.00 price objective on the stock. Morgan Stanley lowered their target price on shares of Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a research note on Monday, August 26th. Finally, HSBC downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $420.69.

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.