Deere & Company $DE Shares Acquired by Aberdeen Group plc

Aberdeen Group plc increased its position in Deere & Company (NYSE:DE) by 2.7% during the second quarter, Holdings Channel reports. The fund owned 274,993 shares of the industrial products company’s stock after purchasing an additional 7,184 shares during the quarter. Aberdeen Group plc’s holdings in Deere & Company were worth $139,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of DE. Brighton Jones LLC increased its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. GAMMA Investing LLC increased its holdings in shares of Deere & Company by 30.6% in the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock worth $1,753,000 after acquiring an additional 876 shares during the period. SG Americas Securities LLC increased its holdings in shares of Deere & Company by 42.3% in the 1st quarter. SG Americas Securities LLC now owns 5,836 shares of the industrial products company’s stock worth $2,739,000 after acquiring an additional 1,735 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after acquiring an additional 5,053 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Deere & Company by 164.2% in the 1st quarter. Capital Advisors Ltd. LLC now owns 177 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DE shares. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Truist Financial raised their target price on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, DA Davidson lowered their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $513.88.

Deere & Company Stock Performance

Shares of DE opened at $446.76 on Friday. The firm’s 50 day moving average is $479.15 and its 200-day moving average is $488.35. The stock has a market capitalization of $120.77 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.94 and a beta of 1.02. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. Deere & Company’s payout ratio is currently 33.87%.

About Deere & Company

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.