QRG Capital Management Inc. Buys 3,199 Shares of Deere & Company $DE

QRG Capital Management Inc. boosted its stake in Deere & Company (NYSE:DE) by 8.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,092 shares of the industrial products company’s stock after purchasing an additional 3,199 shares during the quarter. QRG Capital Management Inc.’s holdings in Deere & Company were worth $20,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Vest Financial LLC boosted its holdings in Deere & Company by 73.5% in the 1st quarter. Vest Financial LLC now owns 3,837 shares of the industrial products company’s stock valued at $1,801,000 after purchasing an additional 1,626 shares during the period. Magnus Financial Group LLC grew its position in shares of Deere & Company by 2.8% during the 1st quarter. Magnus Financial Group LLC now owns 1,219 shares of the industrial products company’s stock valued at $572,000 after purchasing an additional 33 shares in the last quarter. Procyon Advisors LLC increased its holdings in shares of Deere & Company by 2.6% in the first quarter. Procyon Advisors LLC now owns 6,492 shares of the industrial products company’s stock worth $3,047,000 after purchasing an additional 166 shares during the period. Finally, Pines Wealth Management LLC raised its position in shares of Deere & Company by 15.9% in the first quarter. Pines Wealth Management LLC now owns 618 shares of the industrial products company’s stock worth $290,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE opened at $462.59 on Friday. The stock’s 50 day simple moving average is $484.64 and its 200 day simple moving average is $489.15. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The firm has a market cap of $125.05 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.98 and a beta of 1.02.

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

Deere & Company Dividend Announcement

The company 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is currently 33.87%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. 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 report on Saturday, September 27th. Wolfe Research lowered their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday. Truist Financial cut their price target on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Finally, Daiwa Capital Markets lowered their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $518.18.

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.