Clark Asset Management LLC Takes $2.05 Million Position in Deere & Company $DE

Clark Asset Management LLC purchased a new stake in Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,023 shares of the industrial products company’s stock, valued at approximately $2,046,000.

Several other institutional investors have also made changes to their positions in DE. Nuveen LLC bought a new stake in shares of Deere & Company in the first quarter valued at approximately $571,073,000. TD Asset Management Inc boosted its stake in shares of Deere & Company by 132.0% in the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after buying an additional 410,636 shares during the period. Voya Investment Management LLC boosted its stake in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after buying an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after buying an additional 256,806 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. Daiwa Capital Markets cut their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Truist Financial upped their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada assumed coverage on Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Price Performance

Shares of DE opened at $477.76 on Tuesday. The stock has a market cap of $129.15 billion, a PE ratio of 24.97, a PEG ratio of 3.04 and a beta of 1.02. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The business has a 50-day simple moving average of $469.62 and a two-hundred day simple moving average of $489.44. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.29 earnings per share. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.