Capital Investment Counsel LLC Increases Position in Deere & Company (NYSE:DE)

Capital Investment Counsel LLC grew its holdings in Deere & Company (NYSE:DE) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,945 shares of the industrial products company’s stock after purchasing an additional 642 shares during the quarter. Capital Investment Counsel LLC’s holdings in Deere & Company were worth $6,654,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 3rd quarter valued at about $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the second quarter valued at about $37,000. Finally, Centennial Bank AR increased its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced 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. Finally, Truist Financial increased their price target on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $431.61.

Deere & Company Stock Performance

Shares of DE stock opened at $446.65 on Friday. The firm has a 50 day moving average of $406.99 and a two-hundred day moving average of $386.36. The stock has a market capitalization of $122.20 billion, a PE ratio of 17.45, a P/E/G ratio of 1.70 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $447.50.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 22.97%.

Deere & Company 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.