Deere & Company (NYSE:DE) Shares Bought by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. lifted its stake in shares of Deere & Company (NYSE:DE) by 4.8% in the third quarter, Holdings Channel reports. The institutional investor owned 2,090 shares of the industrial products company’s stock after buying an additional 96 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in Deere & Company were worth $872,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Oppenheimer Asset Management Inc. raised its stake 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 in the last quarter. Aviance Capital Partners LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at approximately $2,783,000. Royal Fund Management LLC lifted its stake in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares during the last quarter. New Century Financial Group LLC acquired a new position in Deere & Company in the third quarter worth $1,052,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $24,984,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Truist Financial upped their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Citigroup lifted their price objective 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. 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 MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Up 0.5 %

DE stock opened at $408.64 on Thursday. The firm has a market cap of $112.61 billion, a PE ratio of 12.30, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month 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. The firm has a 50 day simple moving average of $396.54 and a 200 day simple moving average of $385.38.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.20 EPS. Equities research analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.44%. Deere & Company’s payout ratio is presently 17.70%.

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.