Oppenheimer Asset Management Inc. Increases Holdings in Deere & Company $DE

Oppenheimer Asset Management Inc. increased its stake in Deere & Company (NYSE:DE) by 1.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,763 shares of the industrial products company’s stock after purchasing an additional 295 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Deere & Company were worth $8,524,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DE shares. Truist Financial boosted their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wolfe Research reduced their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Jefferies Financial Group reduced their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. UBS Group set a $535.00 price objective on Deere & Company and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Trading Up 0.8%

NYSE DE opened at $473.01 on Monday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a 50-day moving average of $469.88 and a 200-day moving average of $489.27. The firm has a market cap of $127.87 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02.

Deere & Company (NYSE:DE) last released its earnings results 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 company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.29 EPS. As a group, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

Deere & Company 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.