Deere & Company (NYSE:DE) Stock Holdings Lifted by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its position in Deere & Company (NYSE:DE) by 16.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,601 shares of the industrial products company’s stock after purchasing an additional 1,096 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Deere & Company were worth $3,172,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mattern Wealth Management LLC boosted its holdings in Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC grew its holdings in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the period. Centaurus Financial Inc. raised its position in shares of Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 26 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in Deere & Company by 1.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock valued at $578,000 after purchasing an additional 26 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock traded up $0.86 during trading hours on Wednesday, reaching $406.90. The company had a trading volume of 177,866 shares, compared to its average volume of 1,441,420. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock has a fifty day moving average of $399.35 and a 200-day moving average of $385.23. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a market capitalization of $112.13 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.20 earnings per share. On average, equities analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DE. Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Oppenheimer dropped their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial upped their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

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.