Deere & Company (NYSE:DE) Shares Bought by Absher Wealth Management LLC

Absher Wealth Management LLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 7.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,666 shares of the industrial products company's stock after purchasing an additional 5,557 shares during the period. Deere & Company makes up 4.5% of Absher Wealth Management LLC's portfolio, making the stock its 4th biggest position. Absher Wealth Management LLC's holdings in Deere & Company were worth $34,916,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $26,000. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company's stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC bought a new position in Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR grew 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 worth $39,000 after acquiring an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HSBC cut shares of Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, August 19th. Citigroup boosted their target price on Deere & Company from $395.00 to $420.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Oppenheimer dropped their target price on shares of Deere & Company from $465.00 to $448.00 and set an "outperform" rating on the stock in a report on Monday, July 22nd. Truist Financial increased their target price on Deere & Company from $443.00 to $496.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Finally, Bank of America lifted their price objective 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. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $420.69.

Deere & Company Stock Performance

DE traded down $4.29 during trading on Friday, hitting $400.40. The stock had a trading volume of 850,402 shares, compared to its average volume of 1,438,217. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The company has a 50 day moving average price of $400.47 and a 200-day moving average price of $385.50. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The firm has a market cap of $109.55 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 EPS. The business's revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

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