3,800 Shares in Deere & Company (NYSE:DE) Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp purchased a new stake in shares of Deere & Company (NYSE:DE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,800 shares of the industrial products company’s stock, valued at approximately $1,413,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC boosted its holdings in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 59 shares in the last quarter. Pineridge Advisors LLC lifted its position in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Private Wealth Management Group LLC acquired a new stake in Deere & Company in the 4th quarter valued at $29,000. Livelsberger Financial Advisory bought a new stake in Deere & Company in the fourth quarter valued at $30,000. Finally, Spartan Planning & Wealth Management bought a new stake in Deere & Company in the fourth quarter valued at $33,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DE. Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Truist Financial restated a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Daiwa Capital Markets upped their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Stifel Nicolaus increased their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $414.11.

Deere & Company Trading Down 1.5 %

Deere & Company stock traded down $5.81 during trading hours on Thursday, reaching $386.14. 471,151 shares of the company’s stock traded hands, compared to its average volume of 1,529,820. The firm has a market capitalization of $106.41 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.28 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. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46. The firm’s 50 day moving average is $368.73 and its 200-day moving average is $380.18.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. 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 previous year, the firm posted $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, analysts predict that Deere & Company will post 25.09 earnings per share for the current year.

Deere & Company Dividend Announcement

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 $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Insider Transactions at Deere & Company

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the sale, the insider now owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

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.