Dimensional Fund Advisors LP Raises Stock Position in Deere & Company (NYSE:DE)

Dimensional Fund Advisors LP grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,595,945 shares of the industrial products company's stock after purchasing an additional 160,369 shares during the period. Dimensional Fund Advisors LP owned about 0.57% of Deere & Company worth $638,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Briaud Financial Planning Inc purchased a new stake in Deere & Company during the third quarter worth about $25,000. ZRC Wealth Management LLC purchased a new stake in Deere & Company during the fourth quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company during the fourth quarter worth about $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $29,000. Finally, Bfsg LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $30,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $425.00 to $401.00 and set a "hold" rating for the company in a research report on Friday, February 16th. Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They set a "buy" rating and a $494.00 price objective for the company. Citigroup lowered their price target on Deere & Company from $450.00 to $435.00 and set a "buy" rating for the company in a report on Friday, February 16th. Evercore ISI upped their price target on Deere & Company from $381.00 to $387.00 and gave the company an "in-line" rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on Deere & Company from $415.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, Deere & Company has an average rating of "Hold" and an average target price of $433.28.

Deere & Company Price Performance

Shares of NYSE:DE traded down $1.11 during midday trading on Friday, hitting $407.89. 1,426,791 shares of the stock were exchanged, compared to its average volume of 1,287,025. The stock has a market cap of $113.54 billion, a P/E ratio of 11.88, a PEG ratio of 1.54 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a 50 day moving average price of $395.62 and a 200-day moving average price of $384.79.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business's revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.55 EPS. On average, research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Friday, March 29th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 27th. Deere & Company's dividend payout ratio is presently 17.12%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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