Vista Investment Partners LLC Boosts Holdings in Deere & Company $DE

Key Points

• Vista Investment Partners LLC increased its stake in Deere & Company by 46.3%, owning 2,337 shares valued at approximately $1.19 million after purchasing an additional 740 shares in the second quarter.
• During the same time frame, other institutional investors also made notable adjustments, with Wealth Enhancement Advisory Services LLC increasing its holdings by 6.3%, now owning 95,705 shares worth nearly $50 million.
• Deere & Company reported earnings of $4.75 per share for the last quarter, surpassing estimates, although its revenue declined by 9.0% from the previous year.

Vista Investment Partners LLC grew its stake in Deere & Company (NYSE:DE - Free Report) by 46.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,337 shares of the industrial products company's stock after purchasing an additional 740 shares during the quarter. Vista Investment Partners LLC's holdings in Deere & Company were worth $1,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after buying an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC grew its position in Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after purchasing an additional 303 shares during the last quarter. Bragg Financial Advisors Inc grew its position in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after purchasing an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in Deere & Company during the 1st quarter valued at about $13,588,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE traded up $2.30 during trading on Monday, reaching $471.93. 661,092 shares of the company traded hands, compared to its average volume of 1,372,090. 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 12-month low of $387.03 and a 12-month high of $533.78. The firm has a fifty day simple moving average of $493.23 and a 200 day simple moving average of $490.37. The company has a market cap of $127.58 billion, a P/E ratio of 24.68, a PEG 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. On average, equities analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend 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 33.87%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DE. Truist Financial cut their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Robert W. Baird cut 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 report on Friday, August 15th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $517.27.

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.