Ceredex Value Advisors LLC Increases Stake in Deere & Company (NYSE:DE)

Ceredex Value Advisors LLC raised its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 17.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,617 shares of the industrial products company's stock after purchasing an additional 22,377 shares during the period. Deere & Company accounts for approximately 1.2% of Ceredex Value Advisors LLC's holdings, making the stock its 20th biggest holding. Ceredex Value Advisors LLC owned about 0.06% of Deere & Company worth $63,913,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norden Group LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at approximately $1,070,000. Kovack Advisors Inc. increased its position in Deere & Company by 46.0% during the 1st quarter. Kovack Advisors Inc. now owns 1,010 shares of the industrial products company's stock worth $415,000 after buying an additional 318 shares during the period. Resonant Capital Advisors LLC bought a new position in Deere & Company during the first quarter worth about $223,000. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Deere & Company by 4.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,460 shares of the industrial products company's stock worth $2,653,000 after purchasing an additional 294 shares during the period. Finally, Choreo LLC raised its holdings in Deere & Company by 16.0% in the 1st quarter. Choreo LLC now owns 9,287 shares of the industrial products company's stock valued at $3,814,000 after acquiring an additional 1,279 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Truist Financial boosted their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a report on Friday, August 16th. Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Monday, August 26th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a "market perform" rating and a $400.00 price objective for the company. Finally, Hsbc Global Res lowered Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $420.69.

Deere & Company Stock Performance

Shares of DE traded down $4.27 during trading hours on Friday, hitting $400.42. The company's stock had a trading volume of 1,522,533 shares, compared to its average volume of 1,441,387. The business has a 50 day simple moving average of $400.85 and a two-hundred day simple moving average of $385.49. The company has a market cap of $109.55 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating 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 analysts' expectations of $10.94 billion. During the same quarter in the previous year, the company earned $10.20 earnings per share. Deere & Company's revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 dividend on an annualized basis and a yield of 1.47%. Deere & Company's dividend payout ratio is presently 20.06%.

Deere & 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.