Optas LLC Has $797,000 Stock Position in Deere & Company $DE

Optas LLC grew its position in Deere & Company (NYSE:DE) by 105.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,568 shares of the industrial products company’s stock after buying an additional 806 shares during the quarter. Optas LLC’s holdings in Deere & Company were worth $797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Activest Wealth Management boosted its holdings in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the first quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company during the second quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the second quarter worth approximately $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Truist Financial raised their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday. Finally, Daiwa Capital Markets reduced their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $518.59.

Deere & Company Trading Down 0.1%

Shares of DE stock opened at $461.06 on Thursday. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The firm’s fifty day simple moving average is $481.60 and its 200 day simple moving average is $488.75. The firm has a market capitalization of $124.64 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

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

Deere & Company Announces Dividend

The company also recently announced 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. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. 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.