Grant Street Asset Management Inc. Increases Holdings in Deere & Company $DE

Grant Street Asset Management Inc. grew its holdings in shares of Deere & Company (NYSE:DE) by 30.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 569 shares of the industrial products company’s stock after acquiring an additional 132 shares during the quarter. Grant Street Asset Management Inc.’s holdings in Deere & Company were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Deere & Company by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after purchasing an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock worth $852,254,000 after acquiring an additional 35,075 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Deere & Company by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock worth $727,046,000 after acquiring an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $473.16 on Thursday. The stock has a market cap of $127.91 billion, a PE ratio of 24.73, a PEG ratio of 3.01 and a beta of 1.02. The company’s fifty day moving average is $468.82 and its 200 day moving average is $489.70. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.29 EPS. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DE. Truist Financial lifted their price objective on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Robert W. Baird cut their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Evercore ISI set a $491.00 target price on Deere & Company in a research note on Tuesday, August 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company 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.