Sentry LLC Grows Stake in Deere & Company (NYSE:DE)

Sentry LLC raised its holdings in Deere & Company (NYSE:DE - Free Report) by 153.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,759 shares of the industrial products company's stock after buying an additional 1,066 shares during the quarter. Sentry LLC's holdings in Deere & Company were worth $826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DE. Price T Rowe Associates Inc. MD boosted its holdings in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Capital World Investors raised its position in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after purchasing an additional 157,224 shares in the last quarter. FMR LLC grew its position in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC increased its position in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Deere & Company during the 4th quarter valued at $1,244,094,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Up 2.9%

Shares of DE stock traded up $14.68 during trading hours on Monday, hitting $524.27. The company had a trading volume of 1,277,438 shares, compared to its average volume of 1,393,282. The company's fifty day moving average is $487.24 and its 200 day moving average is $468.55. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock has a market capitalization of $141.99 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Deere & Company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the business earned $8.53 EPS. Research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company's dividend payout ratio is presently 31.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. DA Davidson restated a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average price target of $515.19.

Deere & Company Profile

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.