Firetrail Investments PTY Ltd. Takes $10.24 Million Position in Deere & Company (NYSE:DE)

Firetrail Investments PTY Ltd. bought a new position in Deere & Company (NYSE:DE) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 24,566 shares of the industrial products company’s stock, valued at approximately $10,242,000. Deere & Company comprises 3.0% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 20th biggest position.

A number of other large investors have also recently made changes to their positions in the company. Mattern Wealth Management LLC increased its stake in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC grew its holdings in shares of Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the last quarter. Round Rock Advisors LLC increased its stake in Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares during the period. Centaurus Financial Inc. lifted its holdings in Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. boosted its position in Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 26 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Citigroup raised their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. raised their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Finally, Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

Shares of DE stock opened at $389.45 on Thursday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The business’s fifty day simple moving average is $403.52 and its 200-day simple moving average is $385.61. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a market cap of $106.55 billion, a PE ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating 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 company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business posted $10.20 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. Analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

About Deere & Company

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.