HighTower Advisors LLC Buys 23,277 Shares of Deere & Company (NYSE:DE)

HighTower Advisors LLC raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 20.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,797 shares of the industrial products company's stock after acquiring an additional 23,277 shares during the quarter. HighTower Advisors LLC's holdings in Deere & Company were worth $56,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Stockbridge Partners LLC increased its holdings in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company's stock worth $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp boosted its stake in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock valued at $1,669,000 after buying an additional 1,400 shares during the period. Balentine LLC purchased a new position in Deere & Company during the third quarter worth about $710,000. Finally, Captrust Financial Advisors increased its stake in Deere & Company by 2.7% in the 3rd quarter. Captrust Financial Advisors now owns 155,184 shares of the industrial products company's stock worth $64,763,000 after acquiring an additional 4,051 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial lifted their price target on Deere & Company from $496.00 to $538.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $420.00 to $450.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Evercore ISI lifted their price objective 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. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, Citigroup raised their price target on Deere & Company from $395.00 to $420.00 and gave the company a "neutral" rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $436.41.

Deere & Company Stock Down 1.8 %

Deere & Company stock traded down $8.09 on Thursday, hitting $448.17. 1,159,181 shares of the stock traded hands, compared to its average volume of 1,446,253. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market cap of $122.62 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The business's fifty day simple moving average is $417.01 and its 200 day simple moving average is $389.92.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company's revenue was down 32.8% on a year-over-year basis. During the same period last year, the company posted $8.26 EPS. As a group, sell-side analysts forecast that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.45%. This is an increase 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.