Deere & Company (NYSE:DE) Shares Sold by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. reduced its holdings in shares of Deere & Company (NYSE:DE) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 5,587 shares of the industrial products company’s stock after selling 178 shares during the period. Great Valley Advisor Group Inc.’s holdings in Deere & Company were worth $2,331,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Legal & General Group Plc boosted its holdings in shares of Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in Deere & Company by 11.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 1,341,626 shares of the industrial products company’s stock worth $559,901,000 after acquiring an additional 139,336 shares during the last quarter. Markel Group Inc. raised its position in Deere & Company by 2.8% during the third quarter. Markel Group Inc. now owns 869,100 shares of the industrial products company’s stock worth $362,702,000 after acquiring an additional 23,750 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Deere & Company by 6.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 860,167 shares of the industrial products company’s stock valued at $358,973,000 after buying an additional 49,211 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. Morgan Stanley dropped their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. 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 target for the company. Truist Financial upped their price target on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $431.61.

Deere & Company Price Performance

Shares of DE stock opened at $446.65 on Monday. The company has a market capitalization of $122.20 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.93. The firm has a fifty day simple moving average of $406.99 and a 200-day simple moving average of $386.22. The company has a current ratio of 2.09, a quick ratio of 1.87 and a debt-to-equity ratio of 1.89. Deere & Company has a twelve month low of $340.20 and a twelve month high of $447.50.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.26 earnings per share. Equities research analysts anticipate that Deere & Company will post 21.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.32%. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

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.