OneAscent Financial Services LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

OneAscent Financial Services LLC raised its stake in Deere & Company (NYSE:DE - Free Report) by 67.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,976 shares of the industrial products company's stock after purchasing an additional 2,400 shares during the period. OneAscent Financial Services LLC's holdings in Deere & Company were worth $2,858,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Deere & Company by 23.4% during the fourth quarter. Proficio Capital Partners LLC now owns 1,253 shares of the industrial products company's stock worth $531,000 after purchasing an additional 238 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of Deere & Company by 6.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 32,728 shares of the industrial products company's stock worth $13,509,000 after purchasing an additional 1,934 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Deere & Company during the fourth quarter worth $124,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Deere & Company by 774.6% during the fourth quarter. Teacher Retirement System of Texas now owns 15,331 shares of the industrial products company's stock worth $6,496,000 after purchasing an additional 13,578 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DE shares. The Goldman Sachs Group restated a "buy" rating on shares of Deere & Company in a research report on Thursday, May 15th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Citigroup dropped their price objective on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Truist Financial lifted their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Bank of America lifted their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $515.50.

Deere & Company Stock Performance

Deere & Company stock opened at $499.95 on Friday. The stock's 50 day moving average price is $512.85 and its 200 day moving average price is $481.04. The firm has a market capitalization of $135.40 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 3.17 and a beta of 1.08. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. Deere & Company has a one year low of $340.20 and a one year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the company posted $8.53 EPS. Deere & Company's quarterly revenue was down 17.9% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.30%. Deere & Company's payout ratio is currently 31.35%.

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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