Deere & Company (NYSE:DE) Shares Bought by KBC Group NV

KBC Group NV grew its stake in Deere & Company (NYSE:DE) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 101,794 shares of the industrial products company’s stock after buying an additional 9,968 shares during the quarter. KBC Group NV’s holdings in Deere & Company were worth $42,482,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Fairscale Capital LLC purchased a new position in Deere & Company in the second quarter valued at $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 3rd quarter worth about $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company during the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR increased its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $394.68 on Friday. The stock has a fifty day simple moving average of $403.47 and a 200-day simple moving average of $385.64. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market cap of $107.98 billion, a PE ratio of 13.47, a P/E/G ratio of 1.50 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the firm earned $10.20 EPS. The business’s revenue was down 20.3% on a year-over-year basis. Equities analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is presently 20.06%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DE. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets began coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Truist Financial increased their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Evercore ISI boosted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, Bank of America raised their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Twelve 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, Deere & Company has an average rating of “Hold” and a consensus target price 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.