Simmons Bank Grows Holdings in Deere & Company (NYSE:DE)

Simmons Bank grew its stake in shares of Deere & Company (NYSE:DE) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,545 shares of the industrial products company’s stock after purchasing an additional 255 shares during the quarter. Simmons Bank’s holdings in Deere & Company were worth $8,991,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Chase Investment Counsel Corp increased its position in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. Haverford Trust Co increased its holdings in Deere & Company by 11.5% during the third quarter. Haverford Trust Co now owns 4,626 shares of the industrial products company’s stock valued at $1,931,000 after buying an additional 478 shares during the period. Victory Capital Management Inc. raised its stake in Deere & Company by 2.6% in the third quarter. Victory Capital Management Inc. now owns 100,110 shares of the industrial products company’s stock worth $41,779,000 after buying an additional 2,569 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in Deere & Company by 18.3% during the third quarter. Aptus Capital Advisors LLC now owns 26,535 shares of the industrial products company’s stock worth $11,074,000 after buying an additional 4,100 shares during the period. Finally, First Heartland Consultants Inc. boosted its position in Deere & Company by 7.1% during 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 in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DE shares. BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research 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 stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Down 2.2 %

NYSE:DE opened at $393.83 on Wednesday. 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 company’s fifty day moving average price is $403.52 and its 200-day moving average price is $385.61. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm has a market capitalization of $107.75 billion, a P/E ratio of 13.44, a PEG ratio of 1.53 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during 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 company’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the business posted $10.20 EPS. As a group, equities research analysts anticipate that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders 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 dividend payout ratio is presently 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.