Simon Quick Advisors LLC Boosts Position in Deere & Company (NYSE:DE)

Simon Quick Advisors LLC grew its stake in shares of Deere & Company (NYSE:DE) by 17.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,068 shares of the industrial products company’s stock after acquiring an additional 161 shares during the period. Simon Quick Advisors LLC’s holdings in Deere & Company were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MCF Advisors LLC lifted its stake in Deere & Company by 4.1% in the 4th quarter. MCF Advisors LLC now owns 818 shares of the industrial products company’s stock worth $348,000 after purchasing an additional 32 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Deere & Company by 19.0% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 10,079 shares of the industrial products company’s stock worth $4,270,000 after purchasing an additional 1,611 shares during the period. Atomi Financial Group Inc. raised its position in shares of Deere & Company by 34.2% in the fourth quarter. Atomi Financial Group Inc. now owns 2,277 shares of the industrial products company’s stock worth $965,000 after buying an additional 580 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in Deere & Company by 48.9% during the fourth quarter. Clear Harbor Asset Management LLC now owns 3,565 shares of the industrial products company’s stock valued at $1,510,000 after buying an additional 1,171 shares during the period. Finally, Segment Wealth Management LLC grew its position in Deere & Company by 9.3% during the fourth quarter. Segment Wealth Management LLC now owns 2,355 shares of the industrial products company’s stock worth $998,000 after buying an additional 200 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.8 %

Shares of Deere & Company stock opened at $459.55 on Thursday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company’s 50 day moving average price is $433.94 and its 200-day moving average price is $403.91. The stock has a market capitalization of $125.16 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.81 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.26 earnings per share. Equities research 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. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.41%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Morgan Stanley boosted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Oppenheimer raised their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Truist Financial upped their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $442.83.

About Deere & Company

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.