Woodline Partners LP purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,281 shares of the industrial products company's stock, valued at approximately $6,475,000.
A number of other hedge funds have also made changes to their positions in DE. Victrix Investment Advisors bought a new position in Deere & Company in the 4th quarter worth $346,000. Vident Advisory LLC increased its stake in Deere & Company by 150.4% in the fourth quarter. Vident Advisory LLC now owns 10,933 shares of the industrial products company's stock valued at $4,633,000 after purchasing an additional 6,566 shares in the last quarter. Visionary Wealth Advisors increased its stake in Deere & Company by 12.8% in the fourth quarter. Visionary Wealth Advisors now owns 1,196 shares of the industrial products company's stock valued at $507,000 after purchasing an additional 136 shares in the last quarter. Vivaldi Capital Management LP increased its position in shares of Deere & Company by 8,104.2% during the fourth quarter. Vivaldi Capital Management LP now owns 53,081 shares of the industrial products company's stock worth $22,490,000 after acquiring an additional 52,434 shares in the last quarter. Finally, St. Clair Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth $212,000. Institutional investors and hedge funds own 68.58% of the company's stock.
Deere & Company Price Performance
DE stock traded down $0.86 during mid-day trading on Tuesday, hitting $509.20. The stock had a trading volume of 1,103,513 shares, compared to its average volume of 1,408,677. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The firm has a market capitalization of $138.20 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.14 and a beta of 1.08. The firm has a fifty day simple moving average of $473.20 and a 200 day simple moving average of $459.86.
Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same period last year, the company posted $8.53 EPS. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $6.48 annualized dividend and a yield of 1.27%. Deere & Company's dividend payout ratio is presently 31.35%.
Analyst Upgrades and Downgrades
DE has been the subject of a number of recent analyst reports. Raymond James increased their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Evercore ISI increased their price target on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research note on Monday, May 19th. Truist Financial increased their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Morgan Stanley increased their price objective on shares of Deere & Company from $450.00 to $500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $516.75.
Check Out Our Latest Stock Analysis on Deere & Company
Deere & Company Profile
(
Free Report)
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.
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