Victory Capital Management Inc. Purchases 2,569 Shares of Deere & Company (NYSE:DE)

Victory Capital Management Inc. increased its position in Deere & Company (NYSE:DE) by 2.6% in the third quarter, Holdings Channel.com reports. The fund owned 100,110 shares of the industrial products company’s stock after acquiring an additional 2,569 shares during the quarter. Victory Capital Management Inc.’s holdings in Deere & Company were worth $41,779,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its stake in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Balentine LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $710,000. Royal Fund Management LLC raised its stake in shares of Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after acquiring an additional 3,223 shares in the last quarter. New Century Financial Group LLC purchased a new position in shares of Deere & Company during the third quarter worth approximately $1,052,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Deere & Company during the second quarter worth approximately $24,984,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DE has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial lifted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

NYSE:DE opened at $398.95 on Friday. The stock has a market cap of $109.15 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. The firm’s fifty day simple moving average is $403.69 and its 200 day simple moving average is $385.70. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.20 earnings per share. As a group, research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

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.