Vestor Capital LLC Buys New Position in Deere & Company $DE

Vestor Capital LLC purchased a new position in Deere & Company (NYSE:DE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 833 shares of the industrial products company’s stock, valued at approximately $559,000.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Deere & Company in the 2nd quarter worth about $11,763,504,000. Wellington Management Group LLP raised its holdings in shares of Deere & Company by 84.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after buying an additional 1,412,694 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Deere & Company during the 2nd quarter valued at about $1,685,093,000. Bank of New York Mellon Corp bought a new stake in Deere & Company in the 2nd quarter worth approximately $1,259,279,000. Finally, Legal & General Group Plc bought a new stake in Deere & Company in the 2nd quarter worth approximately $957,456,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $640.00 to $800.00 in a research note on Monday, August 31st. CICC Research began coverage on shares of Deere & Company in a research note on Sunday, September 13th. They set an “outperform” rating on the stock. UBS Group lowered their price objective on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating for the company in a report on Friday, August 21st. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Truist Financial cut their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Stock Performance

Shares of DE stock opened at $689.80 on Tuesday. The stock has a fifty day moving average of $668.20 and a 200 day moving average of $608.94. The firm has a market capitalization of $185.98 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 1.92 and a beta of 0.89. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Deere & Company has a 52 week low of $455.90 and a 52 week high of $721.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analysts’ expectations of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. Deere & Company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.75 earnings per share. As a group, research analysts expect that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 30th. Deere & Company’s payout ratio is 36.00%.

Deere & Company Company Profile