Deere & Company $DE Shares Purchased by Advisors Capital Management LLC

Advisors Capital Management LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 0.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 61,217 shares of the industrial products company’s stock after purchasing an additional 552 shares during the period. Advisors Capital Management LLC’s holdings in Deere & Company were worth $28,732,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Activest Wealth Management increased its stake in Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in Deere & Company during the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its stake in Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares during the period. Orion Capital Management LLC purchased a new stake in Deere & Company during the 4th quarter worth approximately $34,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Deere & Company during the 4th quarter worth approximately $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.9%

Shares of Deere & Company stock opened at $471.54 on Thursday. The company has a fifty day simple moving average of $499.13 and a 200-day simple moving average of $490.41. Deere & Company has a 12-month low of $378.66 and a 12-month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a market cap of $127.47 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 3.06 and a beta of 1.00.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the business posted $6.29 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Analyst Upgrades and Downgrades

DE has been the topic of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. JPMorgan Chase & Co. cut their target price on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 2nd. DA Davidson cut their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Truist Financial dropped their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Finally, Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $520.87.

Deere & Company Profile

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.