Deere & Company (NYSE:DE) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of Deere & Company (NYSE:DE - Free Report) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,110 shares of the industrial products company's stock after acquiring an additional 2,569 shares during the period. Victory Capital Management Inc.'s holdings in Deere & Company were worth $41,779,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC raised its holdings in Deere & Company by 18.3% in the third quarter. Aptus Capital Advisors LLC now owns 26,535 shares of the industrial products company's stock valued at $11,074,000 after buying an additional 4,100 shares during the period. First Heartland Consultants Inc. raised its stake in shares of Deere & Company by 7.1% in the 3rd quarter. First Heartland Consultants Inc. now owns 1,981 shares of the industrial products company's stock valued at $827,000 after acquiring an additional 132 shares during the period. Savvy Advisors Inc. purchased a new stake in Deere & Company during the 3rd quarter worth $246,000. XXEC Inc. increased its holdings in Deere & Company by 55.4% in the 3rd quarter. XXEC Inc. now owns 16,838 shares of the industrial products company's stock valued at $7,027,000 after purchasing an additional 6,001 shares in the last quarter. Finally, Iyo Bank Ltd. raised its position in Deere & Company by 76.2% in the third quarter. Iyo Bank Ltd. now owns 9,040 shares of the industrial products company's stock valued at $3,773,000 after purchasing an additional 3,910 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE traded up $4.31 during trading hours on Friday, reaching $398.95. 1,168,176 shares of the stock were exchanged, compared to its average volume of 1,431,512. The stock has a market capitalization of $109.15 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93. The firm has a 50 day simple moving average of $404.03 and a 200-day simple moving average of $385.69. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company's dividend payout ratio (DPR) is 20.06%.

Analyst Upgrades and Downgrades

DE has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a research report on Thursday, August 8th. HSBC cut Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, August 19th. Truist Financial lifted their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. Finally, Hsbc Global Res downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and a consensus target price of $420.69.

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.