International Assets Investment Management LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

International Assets Investment Management LLC increased its position in Deere & Company (NYSE:DE) by 46,892.9% in the third quarter, Holdings Channel.com reports. The fund owned 772,094 shares of the industrial products company’s stock after purchasing an additional 770,451 shares during the period. International Assets Investment Management LLC’s holdings in Deere & Company were worth $322,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Swedbank AB purchased a new position in shares of Deere & Company in the first quarter worth $191,628,000. Mawer Investment Management Ltd. bought a new position in Deere & Company during the 2nd quarter valued at about $166,937,000. Dimensional Fund Advisors LP boosted its holdings in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Deere & Company by 1.2% in 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 period. Finally, Strategic Financial Concepts LLC raised its holdings in shares of Deere & Company by 28,306.5% during the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock valued at $934,000 after purchasing an additional 249,097 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on DE shares. Raymond James started coverage on shares of Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Oppenheimer reduced their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Truist Financial raised their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Up 0.6 %

NYSE DE opened at $411.03 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. 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 stock has a market cap of $113.27 billion, a PE ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92. The stock’s 50 day moving average is $396.54 and its 200 day moving average is $385.38.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping 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%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.20 earnings per share. Research analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is currently 17.70%.

Deere & Company 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.