Tobam Takes Position in Deere & Company $DE

Tobam bought a new position in shares of Deere & Company (NYSE:DE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 241 shares of the industrial products company’s stock, valued at approximately $123,000.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Deere & Company by 377.7% in the first quarter. Edgestream Partners L.P. now owns 6,559 shares of the industrial products company’s stock valued at $3,078,000 after purchasing an additional 5,186 shares during the last quarter. First Command Advisory Services Inc. raised its holdings in shares of Deere & Company by 5.3% in the first quarter. First Command Advisory Services Inc. now owns 560 shares of the industrial products company’s stock valued at $263,000 after purchasing an additional 28 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Deere & Company by 4.9% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 10,615 shares of the industrial products company’s stock valued at $4,982,000 after purchasing an additional 497 shares in the last quarter. Finally, Wealthfront Advisers LLC boosted its holdings in Deere & Company by 29.1% during the first quarter. Wealthfront Advisers LLC now owns 30,603 shares of the industrial products company’s stock worth $14,364,000 after purchasing an additional 6,891 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on DE shares. Truist Financial boosted their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Oppenheimer dropped their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Wolfe Research decreased their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Finally, Daiwa Capital Markets lowered their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Price Performance

Shares of NYSE:DE opened at $479.22 on Thursday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The stock has a market cap of $129.55 billion, a PE ratio of 25.05, a PEG ratio of 3.05 and a beta of 1.04. The company’s fifty day moving average is $466.00 and its 200 day moving average is $490.69. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78.

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 return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the firm earned $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

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.