Deere & Company (NYSE:DE) Shares Bought by National Bank of Canada FI

National Bank of Canada FI lifted its position in shares of Deere & Company (NYSE:DE) by 35.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,725 shares of the industrial products company’s stock after acquiring an additional 46,476 shares during the period. National Bank of Canada FI owned about 0.06% of Deere & Company worth $70,724,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Morgan Stanley boosted its stake in Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after acquiring an additional 65,006 shares during the period. FMR LLC grew its position in shares of Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after acquiring an additional 269,571 shares during the last quarter. Northern Trust Corp lifted its position in Deere & Company by 2.5% in the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after purchasing an additional 73,601 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Deere & Company by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock valued at $581,052,000 after purchasing an additional 33,946 shares during the period. Finally, Fisher Asset Management LLC grew its position in Deere & Company by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,480,725 shares of the industrial products company’s stock worth $592,098,000 after purchasing an additional 149,980 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

Shares of NYSE DE traded up $5.00 during mid-day trading on Friday, reaching $400.96. The company had a trading volume of 1,626,960 shares, compared to its average volume of 1,337,641. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company has a market capitalization of $111.61 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 1.04. The stock has a fifty day moving average of $391.45 and a two-hundred day moving average of $383.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the company earned $6.55 earnings per share. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is presently 17.12%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Citigroup reduced their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Finally, Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $433.28.

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.