39,847 Deere & Company $DE Shares Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Deere stake 59.2% in the third quarter, acquiring 39,847 shares and bringing its holdings to 107,123 shares, valued at about $71.5 million.
• Analyst sentiment is broadly positive: 17 analysts rate Deere a Buy and eight a Hold, for a consensus “Moderate Buy” rating and an average price target of $688.10.
• Deere reported quarterly earnings of $5.10 per share, above the $4.69 consensus, while revenue reached $12.61 billion and rose 6.2% year over year.

Allspring Global Investments Holdings LLC lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 59.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,123 shares of the industrial products company's stock after acquiring an additional 39,847 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Deere & Company were worth $71,479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in Deere & Company in the 2nd quarter valued at $27,000. Kilter Group LLC purchased a new position in Deere & Company in the second quarter valued at about $29,000. Solstein Capital LLC purchased a new position in Deere & Company in the second quarter valued at about $30,000. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the second quarter worth about $32,000. Finally, Downshift Financial LLC lifted its stake in shares of Deere & Company by 218.8% during the third quarter. Downshift Financial LLC now owns 51 shares of the industrial products company's stock worth $34,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several analyst reports. CICC Research started coverage on Deere & Company in a research report on Sunday, September 13th. They issued an "outperform" rating for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $752.00 price target on shares of Deere & Company in a research report on Monday, August 24th. Citigroup upped their price target on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. Oppenheimer upped their price target on Deere & Company from $680.00 to $685.00 and gave the stock an "outperform" rating in a report on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, September 21st. Seventeen 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $688.10.

Deere & Company Stock Up 2.7%

Shares of NYSE DE opened at $689.80 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a 1 year low of $455.90 and a 1 year high of $721.22. The stock's 50-day simple moving average is $668.20 and its 200-day simple moving average is $608.94. The firm has a market cap of $185.98 billion, a price-to-earnings ratio of 37.58, a PEG ratio of 1.92 and a beta of 0.89.

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

Deere & Company Dividend Announcement

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

Deere & Company Profile

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