Foundations Investment Advisors LLC Grows Position in Deere & Company (NYSE:DE)

Foundations Investment Advisors LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 56.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,859 shares of the industrial products company’s stock after purchasing an additional 1,389 shares during the period. Foundations Investment Advisors LLC’s holdings in Deere & Company were worth $1,635,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DE. Mount Yale Investment Advisors LLC boosted its holdings in Deere & Company by 73.8% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 2,763 shares of the industrial products company’s stock valued at $1,171,000 after acquiring an additional 1,173 shares during the last quarter. Kavar Capital Partners Group LLC raised its holdings in shares of Deere & Company by 1.6% in the 4th quarter. Kavar Capital Partners Group LLC now owns 9,726 shares of the industrial products company’s stock worth $4,121,000 after purchasing an additional 151 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Deere & Company by 34.3% in the 4th quarter. Pacer Advisors Inc. now owns 25,516 shares of the industrial products company’s stock valued at $10,811,000 after purchasing an additional 6,518 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in shares of Deere & Company by 5.5% during the 4th quarter. Cornerstone Wealth Group LLC now owns 2,348 shares of the industrial products company’s stock worth $995,000 after purchasing an additional 122 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Deere & Company during the 4th quarter worth approximately $3,771,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $480.59 on Wednesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a market cap of $130.89 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.84 and a beta of 0.98. The stock has a 50 day moving average of $440.14 and a 200-day moving average of $407.30.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The firm’s revenue was down 32.8% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

DE has been the subject of several research reports. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $444.50.

Deere & Company 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.