Centaurus Financial Inc. Purchases 1,375 Shares of Deere & Company (NYSE:DE)

Posted by on Mar 17th, 2023

Centaurus Financial Inc. boosted its position in Deere & Company (NYSE:DE – Get Rating) by 78.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,118 shares of the industrial products company’s stock after acquiring an additional 1,375 shares during the period. Centaurus Financial Inc.’s holdings in Deere & Company were worth $1,041,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Deere & Company by 1.0% in the third quarter. Vanguard Group Inc. now owns 22,093,821 shares of the industrial products company’s stock valued at $7,376,906,000 after acquiring an additional 208,053 shares during the last quarter. FMR LLC boosted its holdings in Deere & Company by 4.9% in the second quarter. FMR LLC now owns 5,108,362 shares of the industrial products company’s stock valued at $1,529,801,000 after acquiring an additional 240,210 shares during the last quarter. Legal & General Group Plc boosted its holdings in Deere & Company by 0.4% during the second quarter. Legal & General Group Plc now owns 2,025,822 shares of the industrial products company’s stock worth $606,673,000 after buying an additional 9,039 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Deere & Company by 16.2% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,686,779 shares of the industrial products company’s stock worth $563,198,000 after buying an additional 234,811 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Deere & Company by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,348,614 shares of the industrial products company’s stock worth $560,296,000 after buying an additional 29,757 shares during the last quarter. Institutional investors own 75.72% of the company’s stock.

Deere & Company Stock Up 0.2 %

DE stock opened at $391.11 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.64. The business has a 50 day moving average price of $418.40 and a two-hundred day moving average price of $402.85. The company has a market cap of $115.89 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 1.06 and a beta of 1.05. Deere & Company has a twelve month low of $283.81 and a twelve month high of $448.40.

Deere & Company (NYSE:DE – Get Rating) last posted its quarterly earnings results on Friday, February 17th. The industrial products company reported $6.55 earnings per share for the quarter, beating analysts’ consensus estimates of $5.53 by $1.02. The firm had revenue of $11.40 billion during the quarter, compared to the consensus estimate of $11.14 billion. Deere & Company had a return on equity of 41.17% and a net margin of 14.71%. The business’s revenue was up 33.7% compared to the same quarter last year. During the same period last year, the company earned $2.92 earnings per share. Analysts anticipate that Deere & Company will post 30.58 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 8th. Shareholders of record on Friday, March 31st will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.28%. This is an increase from Deere & Company’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, March 30th. Deere & Company’s dividend payout ratio (DPR) is currently 18.55%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. Evercore ISI raised their target price on Deere & Company from $463.00 to $513.00 in a report on Monday, November 28th. Morgan Stanley raised their target price on Deere & Company from $522.00 to $537.00 and gave the stock an “overweight” rating in a report on Tuesday, February 21st. StockNews.com initiated coverage on Deere & Company in a report on Thursday. They set a “buy” rating on the stock. Bank of America raised their target price on Deere & Company from $478.00 to $484.00 in a report on Monday, February 20th. Finally, The Goldman Sachs Group raised their price target on Deere & Company from $420.00 to $462.00 and gave the stock a “buy” rating in a research report on Monday, November 28th. Eight investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $460.81.

Deere & Company Profile

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE – Get Rating).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.