Deere & Company (NYSE:DE) Shares Purchased by Financial Counselors Inc.

Financial Counselors Inc. boosted its stake in Deere & Company (NYSE:DE - Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,520 shares of the industrial products company's stock after acquiring an additional 3,476 shares during the period. Financial Counselors Inc.'s holdings in Deere & Company were worth $17,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DE. Norges Bank bought a new position in Deere & Company in the 4th quarter worth about $1,248,036,000. Parnassus Investments LLC boosted its stake in Deere & Company by 22.4% in the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company's stock worth $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Swedbank AB bought a new position in Deere & Company in the 1st quarter worth about $191,628,000. Vanguard Group Inc. boosted its stake in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company's stock worth $9,031,500,000 after purchasing an additional 263,709 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Deere & Company by 3,064.1% in the 1st quarter. SG Americas Securities LLC now owns 175,386 shares of the industrial products company's stock worth $72,038,000 after purchasing an additional 169,843 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

Deere & Company stock traded up $3.92 during midday trading on Monday, hitting $385.74. The stock had a trading volume of 1,413,100 shares, compared to its average volume of 1,528,739. The firm's fifty day moving average is $367.94 and its two-hundred day moving average is $379.78. The company has a market capitalization of $106.30 billion, a PE ratio of 11.61, a P/E/G ratio of 1.28 and a beta of 0.93. Deere & Company has a 52-week low of $340.20 and a 52-week high of $423.35. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $10.20 EPS. The firm's quarterly revenue was down 20.3% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 25.09 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company's payout ratio is 17.70%.

Analyst Ratings Changes

A number of equities analysts have weighed in on DE shares. TD Cowen boosted their target price on Deere & Company from $383.00 to $390.00 and gave the stock a "hold" rating in a research report on Friday, May 17th. Bank of America boosted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a "neutral" rating in a research report on Friday, August 16th. Evercore ISI boosted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an "in-line" rating in a research report on Monday, August 19th. HSBC lowered Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Finally, Truist Financial reissued a "buy" rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Fourteen 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 stock presently has an average rating of "Hold" and a consensus target price of $414.11.

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company's stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company 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.