Deere & Company (NYSE:DE) Shares Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 51.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,720 shares of the industrial products company’s stock after acquiring an additional 926 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Deere & Company were worth $1,016,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after acquiring an additional 263,709 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Parnassus Investments LLC grew its stake in shares of Deere & Company by 22.4% in the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after buying an additional 150,713 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after buying an additional 114,116 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer dropped their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Morgan Stanley decreased their target price 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 reiterated a “buy” rating and issued a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Finally, Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $409.88.

Deere & Company Stock Performance

Shares of DE stock opened at $394.68 on Monday. The stock has a market capitalization of $108.76 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $417.46. The stock’s 50-day moving average price is $371.71 and its 200 day moving average price is $381.63. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Dividend Announcement

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

Insiders Place Their Bets

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by 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.