Knights of Columbus Asset Advisors LLC Boosts Stake in Deere & Company $DE

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Deere & Company by 21.5% during Q2, acquiring an additional 1,185 shares and valuing its holdings at approximately $3.4 million.
• Several institutional investors, including Vanguard Group and Price T Rowe Associates, have also recently raised their stakes in Deere & Company, indicating strong institutional interest in the stock.
• Deere & Company announced a quarterly dividend of $1.62 per share, with a yield of 1.4%, set to be paid on November 10th to investors on record by September 30th.

Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 21.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,703 shares of the industrial products company's stock after acquiring an additional 1,185 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Deere & Company were worth $3,408,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock valued at $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock valued at $3,227,258,000 after buying an additional 286,253 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Deere & Company by 2.0% during the first 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 valued at $852,254,000 after buying an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Deere & Company by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company's stock worth $727,046,000 after buying an additional 25,725 shares during the last quarter. Finally, Invesco Ltd. grew 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 acquiring an additional 256,806 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DE. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Oppenheimer reduced their price target on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. Truist Financial lowered their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Robert W. Baird dropped their price objective on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Finally, Wolfe Research decreased their target price on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $518.18.

Deere & Company Price Performance

Shares of DE opened at $462.59 on Monday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The stock's fifty day moving average is $484.64 and its 200-day moving average is $489.24. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market capitalization of $125.05 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02.

Deere & Company (NYSE:DE - Get Free Report) last announced its 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 firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. Deere & Company's revenue was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.29 EPS. Equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

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

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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.