Tower Bridge Advisors Has $3.44 Million Holdings in Deere & Company (NYSE:DE)

Tower Bridge Advisors boosted its position in Deere & Company (NYSE:DE) by 21.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,253 shares of the industrial products company’s stock after buying an additional 1,450 shares during the period. Tower Bridge Advisors’ holdings in Deere & Company were worth $3,444,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Atlanta Consulting Group Advisors LLC bought a new stake in shares of Deere & Company during the 3rd quarter valued at about $344,000. Schear Investment Advisers LLC lifted its stake in Deere & Company by 16.5% in the third quarter. Schear Investment Advisers LLC now owns 2,249 shares of the industrial products company’s stock valued at $939,000 after buying an additional 318 shares during the period. River Street Advisors LLC boosted its holdings in shares of Deere & Company by 2.6% during the 3rd quarter. River Street Advisors LLC now owns 1,749 shares of the industrial products company’s stock worth $730,000 after buying an additional 45 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $204,000. Finally, Natixis Advisors LLC increased its stake in shares of Deere & Company by 9.3% in the 3rd quarter. Natixis Advisors LLC now owns 166,896 shares of the industrial products company’s stock valued at $69,652,000 after acquiring an additional 14,137 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DE. BMO Capital Markets initiated coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Truist Financial raised their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price 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. Twelve equities research 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 stock has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

Shares of NYSE DE opened at $398.95 on Friday. The company has a market capitalization of $109.15 billion, a PE ratio of 13.61, a PEG ratio of 1.52 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock’s 50 day moving average price is $404.03 and its 200-day moving average price is $385.65. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47.

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

Deere & Company Dividend Announcement

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