American Century Companies Inc. Purchases 22,160 Shares of Deere & Company (NYSE:DE)

American Century Companies Inc. boosted its position in shares of Deere & Company (NYSE:DE) by 9.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 250,298 shares of the industrial products company’s stock after acquiring an additional 22,160 shares during the period. American Century Companies Inc.’s holdings in Deere & Company were worth $93,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bahl & Gaynor Inc. grew its holdings in Deere & Company by 41.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 3,200 shares of the industrial products company’s stock valued at $1,196,000 after buying an additional 939 shares in the last quarter. LPL Financial LLC grew its holdings in Deere & Company by 5.7% during the 2nd quarter. LPL Financial LLC now owns 391,390 shares of the industrial products company’s stock valued at $146,235,000 after buying an additional 20,940 shares in the last quarter. Marco Investment Management LLC grew its holdings in Deere & Company by 7.6% during the 2nd quarter. Marco Investment Management LLC now owns 1,414 shares of the industrial products company’s stock valued at $528,000 after buying an additional 100 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its holdings in Deere & Company by 0.8% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 56,844 shares of the industrial products company’s stock valued at $21,239,000 after buying an additional 439 shares in the last quarter. Finally, RV Capital AG purchased a new stake in Deere & Company during the 2nd quarter valued at approximately $1,869,000. Institutional investors own 68.58% of the company’s stock.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. DA Davidson reduced their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Truist Financial restated a “buy” rating and issued a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Finally, Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $414.11.

Deere & Company Stock Up 2.0 %

Shares of DE opened at $394.68 on Friday. The firm has a market capitalization of $107.98 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.29 and a beta of 0.92. Deere & Company has a 12-month low of $340.20 and a 12-month high of $417.46. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a fifty day moving average price of $371.71 and a 200-day moving average price of $381.51.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during 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%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 earnings per share. Equities research analysts expect that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

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.