Firetrail Investments PTY Ltd. Invests $10.24 Million in Deere & Company (NYSE:DE)

Firetrail Investments PTY Ltd. bought a new position in Deere & Company (NYSE:DE - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,566 shares of the industrial products company's stock, valued at approximately $10,242,000. Deere & Company accounts for about 3.0% of Firetrail Investments PTY Ltd.'s holdings, making the stock its 20th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Main Street Financial Solutions LLC acquired a new stake in shares of Deere & Company in the third quarter worth about $1,021,000. Kovack Advisors Inc. lifted its position in shares of Deere & Company by 125.1% in the third quarter. Kovack Advisors Inc. now owns 1,877 shares of the industrial products company's stock worth $784,000 after buying an additional 1,043 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Deere & Company by 1.3% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,009 shares of the industrial products company's stock worth $6,681,000 after buying an additional 201 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Deere & Company by 1.8% in the third quarter. Oppenheimer & Co. Inc. now owns 28,125 shares of the industrial products company's stock worth $11,737,000 after buying an additional 499 shares during the last quarter. Finally, OLD Second National Bank of Aurora lifted its position in shares of Deere & Company by 0.6% in the third quarter. OLD Second National Bank of Aurora now owns 5,237 shares of the industrial products company's stock worth $2,186,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DE. HSBC lowered Deere & Company from a "buy" rating to a "hold" rating in a research note on Monday, August 19th. Truist Financial lifted their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Hsbc Global Res lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley lowered their price target 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. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $420.69.

Deere & Company Trading Up 1.3 %

Shares of DE traded up $5.23 during trading hours on Thursday, reaching $394.68. The stock had a trading volume of 1,224,979 shares, 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. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm has a 50-day moving average of $403.47 and a 200 day moving average of $385.64. The company has a market cap of $107.98 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The business 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%. Deere & Company's revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted $10.20 EPS. On average, sell-side analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.49%. Deere & Company's dividend payout ratio is currently 20.06%.

About Deere & Company

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.