AIA Group Ltd Acquires 13,757 Shares of Deere & Company (NYSE:DE)

AIA Group Ltd lifted its holdings in shares of Deere & Company (NYSE:DE) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 197,559 shares of the industrial products company’s stock after purchasing an additional 13,757 shares during the quarter. Deere & Company comprises approximately 2.1% of AIA Group Ltd’s investment portfolio, making the stock its 6th biggest position. AIA Group Ltd owned 0.07% of Deere & Company worth $82,447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First National Bank & Trust Co. of Newtown lifted its stake in Deere & Company by 1.8% during the third quarter. First National Bank & Trust Co. of Newtown now owns 1,692 shares of the industrial products company’s stock worth $706,000 after purchasing an additional 30 shares in the last quarter. Hudson Value Partners LLC lifted its stake in Deere & Company by 10.6% during the 3rd quarter. Hudson Value Partners LLC now owns 6,520 shares of the industrial products company’s stock worth $2,721,000 after acquiring an additional 627 shares in the last quarter. Sittner & Nelson LLC boosted its holdings in Deere & Company by 7.2% during the 3rd quarter. Sittner & Nelson LLC now owns 446 shares of the industrial products company’s stock valued at $186,000 after acquiring an additional 30 shares during the period. Valley Brook Capital Group Inc. boosted its holdings in Deere & Company by 3.6% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 5,124 shares of the industrial products company’s stock valued at $2,138,000 after acquiring an additional 176 shares during the period. Finally, Washington Trust Bank grew its position in Deere & Company by 0.7% in the 3rd quarter. Washington Trust Bank now owns 30,131 shares of the industrial products company’s stock valued at $12,575,000 after acquiring an additional 200 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $411.16 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm’s 50 day moving average is $402.27 and its two-hundred day moving average is $385.56. The firm has a market capitalization of $112.49 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $10.20 EPS. Research analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 20.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DE. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup raised their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Truist Financial upped their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & 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.