Klingman & Associates LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

Klingman & Associates LLC raised its stake in Deere & Company (NYSE:DE) by 146.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,803 shares of the industrial products company’s stock after purchasing an additional 1,072 shares during the period. Klingman & Associates LLC’s holdings in Deere & Company were worth $752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after acquiring an additional 19,200 shares in the last quarter. Legal & General Group Plc raised its position in shares of Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after purchasing an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Deere & Company by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after purchasing an additional 114,116 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $393.99 on Friday. The business’s 50 day moving average price is $403.02 and its 200 day moving average price is $385.69. The company has a market cap of $107.80 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share 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 firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 EPS. The company’s revenue was down 20.3% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.49%. Deere & Company’s payout ratio is 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.