Lake Street Advisors Group LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

by · The Markets Daily

Lake Street Advisors Group LLC lifted its position in Deere & Company (NYSE:DE – Free Report) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,498 shares of the industrial products company’s stock after buying an additional 79 shares during the period. Lake Street Advisors Group LLC’s holdings in Deere & Company were worth $1,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairscale Capital LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC grew its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the 3rd quarter worth approximately $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company in the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR grew its position in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on DE. Truist Financial boosted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Check Out Our Latest Analysis on DE

Deere & Company Stock Performance

DE opened at $407.93 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a fifty day moving average price of $397.30 and a 200 day moving average price of $385.56. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock has a market cap of $112.41 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.20 earnings per share. Equities research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

Deere & Company Company Profile

(Free Report)

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.

See Also

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