84,039 Deere & Company $DE Shares Purchased by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. increased its position in shares of Deere & Company (NYSE:DE) by 57.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 231,004 shares of the industrial products company’s stock after acquiring an additional 84,039 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Deere & Company were worth $155,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Deere & Company in the second quarter valued at approximately $11,763,504,000. Wellington Management Group LLP increased its position in shares of Deere & Company by 84.3% during the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock worth $1,959,209,000 after purchasing an additional 1,412,694 shares in the last quarter. Bank of America Corp DE increased its position in shares of Deere & Company by 0.3% during the first quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company’s stock worth $1,567,327,000 after purchasing an additional 7,918 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Deere & Company during the second quarter worth $1,259,279,000. Finally, Legal & General Group Plc purchased a new stake in shares of Deere & Company during the 2nd quarter valued at $957,456,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DE shares. CICC Research assumed coverage on Deere & Company in a research report on Sunday, September 13th. They issued an “outperform” rating for the company. Truist Financial dropped their target price on Deere & Company from $812.00 to $804.00 and set a “buy” rating on the stock in a research note on Monday, August 24th. Raymond James Financial upped their target price on Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Barclays increased their price target on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Finally, Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, September 21st. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Stock Down 1.9%

NYSE:DE opened at $678.86 on Friday. The company has a market cap of $183.04 billion, a PE ratio of 38.43, a P/E/G ratio of 1.96 and a beta of 0.89. Deere & Company has a twelve month low of $455.90 and a twelve month high of $721.22. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The company’s 50 day moving average is $668.78 and its two-hundred day moving average is $611.46.

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

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 9th. Investors of record on Wednesday, September 30th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, September 30th. Deere & Company’s dividend payout ratio is presently 36.00%.

About Deere & Company

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.