Deere & Company $DE Stake Raised by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC increased its holdings in Deere & Company (NYSE:DE) by 21.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,703 shares of the industrial products company’s stock after purchasing an additional 1,185 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Deere & Company were worth $3,408,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DE. Nuveen LLC acquired a new stake in Deere & Company during the 1st quarter worth about $571,073,000. Voya Investment Management LLC increased its position in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after acquiring an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares during the period. Invesco Ltd. raised its holdings in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after acquiring an additional 256,806 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Deere & Company by 874.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock valued at $124,028,000 after acquiring an additional 218,893 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $462.59 on Monday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. 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 stock has a 50 day moving average of $484.64 and a two-hundred day moving average of $489.24. The company has a market capitalization of $125.05 billion, a P/E ratio of 24.18, a P/E/G 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 (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the company posted $6.29 EPS. The business’s revenue was down 9.0% on a year-over-year basis. As a group, equities analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Daiwa Capital Markets decreased their target price on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, September 25th. Robert W. Baird lowered their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Evercore ISI set a $491.00 price target on Deere & Company in a research note on Tuesday, August 19th. Truist Financial lowered their price target on 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, Oppenheimer lowered their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $518.18.

About Deere & Company

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.