Deere & Company (NYSE:DE) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,208,368 shares of the industrial products company's stock after purchasing an additional 31,459 shares during the period. Geode Capital Management LLC owned 1.90% of Deere & Company worth $2,168,737,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in Deere & Company during the second quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 3rd quarter worth about $32,000. Centennial Bank AR boosted its holdings 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 period. Continuum Advisory LLC grew its position in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Finally, Briaud Financial Planning Inc increased its stake in Deere & Company by 73.5% during the second quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company's stock worth $44,000 after purchasing an additional 50 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI increased 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. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a report on Friday, August 16th. HSBC downgraded shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Finally, Truist Financial raised their price target on Deere & Company from $496.00 to $538.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus price target of $443.28.

Deere & Company Stock Down 1.2 %

NYSE DE traded down $5.45 during trading hours on Tuesday, hitting $443.96. The company had a trading volume of 1,209,383 shares, compared to its average volume of 1,442,951. The firm's 50 day moving average is $418.17 and its 200 day moving average is $390.83. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a market capitalization of $121.47 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.90 and a beta of 0.96.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. The company's revenue was down 32.8% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.46%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio is presently 22.97%.

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.