Candriam S.C.A. Increases Position in Deere & Company $DE

Candriam S.C.A. lifted its stake in Deere & Company (NYSE:DE) by 73.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,820 shares of the industrial products company’s stock after purchasing an additional 14,349 shares during the period. Candriam S.C.A.’s holdings in Deere & Company were worth $17,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OLD National Bancorp IN lifted its stake in Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock valued at $12,204,000 after buying an additional 610 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc grew its holdings in shares of Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in shares of Deere & Company during the first quarter worth about $13,588,000. Finally, United Asset Strategies Inc. acquired a new position in shares of Deere & Company in the first quarter valued at approximately $2,496,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.5%

Shares of Deere & Company stock opened at $473.54 on Friday. Deere & Company has a twelve month low of $387.79 and a twelve month high of $533.78. The stock has a market cap of $128.01 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a fifty day moving average price of $465.98 and a 200 day moving average price of $490.57.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the firm posted $6.29 earnings per share. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were paid a $1.62 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial boosted their price target on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Oppenheimer dropped their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Daiwa Capital Markets dropped their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. Royal Bank Of Canada began coverage on shares of Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Deere & Company in a research note on Thursday. They set an “overweight” rating and a $543.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $520.00.

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.