Deere & Company $DE Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in shares of Deere & Company (NYSE:DE) by 128.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,265 shares of the industrial products company’s stock after buying an additional 64,747 shares during the quarter. Bank of Nova Scotia’s holdings in Deere & Company were worth $64,929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Gibbs Wealth Management acquired a new stake in shares of Deere & Company during the first quarter worth approximately $1,240,000. MWA Asset Management boosted its stake in shares of Deere & Company by 2.4% during the 1st quarter. MWA Asset Management now owns 9,441 shares of the industrial products company’s stock valued at $5,319,000 after buying an additional 224 shares during the period. Alamar Capital Management LLC purchased a new position in shares of Deere & Company during the 1st quarter valued at $475,000. Cetera Investment Advisers increased its stake in shares of Deere & Company by 2.7% in the first quarter. Cetera Investment Advisers now owns 149,219 shares of the industrial products company’s stock worth $84,055,000 after acquiring an additional 3,855 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Deere & Company by 30.1% during the first quarter. Prestige Wealth Management Group LLC now owns 95 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on DE shares. Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Truist Financial lifted their target price on shares of Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Barclays raised their price objective on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. Bank of America decreased their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Wolfe Research boosted their target price on shares of Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 31st. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $642.98.

Deere & Company Stock Up 3.0%

Shares of NYSE:DE opened at $628.32 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The stock has a market cap of $169.61 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 2.57 and a beta of 0.89. The company has a 50 day moving average of $585.05 and a 200-day moving average of $576.08. Deere & Company has a one year low of $433.00 and a one year high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the prior year, the business posted $6.64 earnings per share. Deere & Company’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Deere & Company will post 18.28 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.