National Bank of Canada FI Buys 63,380 Shares of Deere & Company (NYSE:DE)

National Bank of Canada FI boosted its stake in Deere & Company (NYSE:DE - Free Report) by 37.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 230,652 shares of the industrial products company's stock after acquiring an additional 63,380 shares during the period. National Bank of Canada FI owned 0.08% of Deere & Company worth $96,258,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Stockbridge Partners LLC lifted its stake in shares of Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after purchasing an additional 540,874 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company's stock valued at $5,906,000 after buying an additional 2,692 shares during the period. Chase Investment Counsel Corp lifted its position 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 bought a new stake in shares of Deere & Company during the 3rd quarter valued at $710,000. Finally, Captrust Financial Advisors grew its position in shares of 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 buying an additional 4,051 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE stock traded down $4.12 on Friday, hitting $444.00. The company had a trading volume of 1,130,085 shares, compared to its average volume of 1,488,611. The stock has a market cap of $121.48 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 1.95 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 stock's 50-day simple moving average is $417.53 and its 200 day simple moving average is $390.34. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. Deere & Company's revenue was down 32.8% compared to the same quarter last year. As a group, equities research analysts expect that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

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

Analyst Upgrades and Downgrades

DE has been the topic of several research reports. Bank of America boosted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a research note on Friday, August 16th. Hsbc Global Res cut Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. UBS Group raised their price objective on Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Truist Financial lifted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Finally, Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $440.50.

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.