G&S Capital LLC Purchases 569 Shares of Deere & Company $DE

Key Points

• G&S Capital LLC increased its holdings in Deere & Company by 50.6%, acquiring 569 additional shares, bringing their total ownership to 1,693 shares worth $861,000.
• Deere & Company reported $4.75 earnings per share for its last quarter, surpassing analysts' expectations, but showed a 9.0% decline in revenue year-over-year.
• The firm recently declared a quarterly dividend of $1.62, set to be paid on November 10th, reflecting an annualized dividend yield of 1.4%.

G&S Capital LLC increased its holdings in Deere & Company (NYSE:DE - Free Report) by 50.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,693 shares of the industrial products company's stock after acquiring an additional 569 shares during the quarter. G&S Capital LLC's holdings in Deere & Company were worth $861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Nuveen LLC purchased a new position in Deere & Company during the first quarter valued at $571,073,000. Voya Investment Management LLC raised its position in shares of Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company's stock worth $344,442,000 after purchasing an additional 361,526 shares during 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. Sarasin & Partners LLP raised its position in shares of Deere & Company by 50.4% in the 1st quarter. Sarasin & Partners LLP now owns 771,866 shares of the industrial products company's stock worth $362,275,000 after purchasing an additional 258,522 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock worth $635,150,000 after purchasing an additional 256,806 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of DE stock opened at $465.09 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The firm has a market capitalization of $125.73 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 2.99 and a beta of 1.00. The stock's 50-day simple moving average is $489.05 and its 200-day simple moving average is $489.85.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.29 earnings per share. As a group, equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio is 33.87%.

Analyst Ratings Changes

Several equities research analysts recently commented on DE shares. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Truist Financial reduced their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Daiwa Capital Markets dropped their price target on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. dropped their price target on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. Finally, Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $518.06.

Deere & Company 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.

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