Hixon Zuercher LLC Increases Position in Deere & Company (NYSE:DE)

Hixon Zuercher LLC lifted its position in shares of Deere & Company (NYSE:DE) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 4,870 shares of the industrial products company’s stock after purchasing an additional 55 shares during the period. Hixon Zuercher LLC’s holdings in Deere & Company were worth $2,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Crestwood Advisors Group LLC lifted its holdings in Deere & Company by 3.3% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,761 shares of the industrial products company’s stock worth $1,152,000 after buying an additional 89 shares during the last quarter. Pittenger & Anderson Inc. increased its holdings in shares of Deere & Company by 53.3% in the 3rd quarter. Pittenger & Anderson Inc. now owns 518 shares of the industrial products company’s stock valued at $216,000 after acquiring an additional 180 shares during the last quarter. United Advisor Group LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth about $232,000. ASB Consultores LLC lifted its stake in Deere & Company by 8.5% during the third quarter. ASB Consultores LLC now owns 779 shares of the industrial products company’s stock worth $325,000 after purchasing an additional 61 shares during the last quarter. Finally, FSM Wealth Advisors LLC boosted its holdings in Deere & Company by 2.4% in the third quarter. FSM Wealth Advisors LLC now owns 1,554 shares of the industrial products company’s stock valued at $648,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several recent analyst reports. Bank of America boosted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Truist Financial raised their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup lifted their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 0.3 %

Shares of Deere & Company stock opened at $400.30 on Wednesday. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a market cap of $109.52 billion, a P/E ratio of 13.66, a PEG ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a fifty day moving average of $401.71 and a two-hundred day moving average of $385.41.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the business posted $10.20 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

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.