Empirical Finance LLC Buys 170 Shares of Deere & Company (NYSE:DE)

Empirical Finance LLC increased its stake in shares of Deere & Company (NYSE:DE) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,303 shares of the industrial products company’s stock after buying an additional 170 shares during the period. Empirical Finance LLC’s holdings in Deere & Company were worth $3,882,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Dorsey & Whitney Trust CO LLC boosted its position in shares of Deere & Company by 3.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,398 shares of the industrial products company’s stock valued at $1,396,000 after acquiring an additional 107 shares during the period. Banco Santander S.A. grew its position in shares of Deere & Company by 37.0% during the 1st quarter. Banco Santander S.A. now owns 16,909 shares of the industrial products company’s stock worth $6,945,000 after purchasing an additional 4,564 shares in the last quarter. M&G Plc acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $2,008,000. Prevail Innovative Wealth Advisors LLC boosted its stake in shares of Deere & Company by 31.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 5,735 shares of the industrial products company’s stock valued at $2,356,000 after buying an additional 1,387 shares during the period. Finally, First Foundation Advisors grew its position in Deere & Company by 2.3% during the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. BMO Capital Markets assumed coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

Shares of NYSE:DE opened at $394.17 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm has a market cap of $107.84 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The firm’s fifty day moving average is $403.47 and its 200-day moving average is $385.64.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the company posted $10.20 EPS. The business’s revenue was down 20.3% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Deere & 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.