Balefire LLC Increases Position in Deere & Company $DE

Key Points

• Balefire LLC has increased its holdings in Deere & Company by 4.4%, owning a total of 14,313 shares, which makes up approximately 1.6% of its holdings, valuing at around $7.28 million.
• Several institutional investors, including Vanguard Group Inc. and GAMMA Investing LLC, have also adjusted their positions in Deere, with GAMMA increasing its stake by an impressive 61,215.9%.
• Deere & Company recently reported earnings per share (EPS)** of $4.75, surpassing analysts' expectations, despite showing a 9% decline in year-over-year revenue, while also announcing a quarterly dividend of $1.62 per share.

Balefire LLC grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 4.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,313 shares of the industrial products company's stock after purchasing an additional 602 shares during the period. Deere & Company makes up approximately 1.6% of Balefire LLC's holdings, making the stock its 11th largest position. Balefire LLC's holdings in Deere & Company were worth $7,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Vanguard Group Inc. boosted its holdings in Deere & Company by 0.8% in the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after acquiring an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company's stock worth $852,254,000 after purchasing an additional 35,075 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Deere & Company by 2.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock worth $754,500,000 after purchasing an additional 48,941 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Deere & Company by 61,215.9% during the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 0.1%

Shares of DE opened at $468.62 on Wednesday. The business's 50 day moving average is $495.76 and its 200 day moving average is $490.16. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a market capitalization of $126.68 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the firm posted $6.29 EPS. The company's revenue was down 9.0% on a year-over-year basis. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Truist Financial reduced their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Robert W. Baird decreased their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Oppenheimer increased their price objective on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. decreased their target price on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Deere & Company has an average rating of "Moderate Buy" and a consensus target price of $520.87.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.

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