Bay Colony Advisory Group Inc d b a Bay Colony Advisors Makes New Investment in Deere & Company (NYSE:DE)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 500 shares of the industrial products company's stock, valued at approximately $233,000.

Several other institutional investors and hedge funds also recently modified their holdings of DE. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $1,244,094,000. GAMMA Investing LLC grew its stake in Deere & Company by 61,215.9% in the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after purchasing an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $541,437,000. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE stock traded up $0.09 during trading on Tuesday, hitting $514.17. The company had a trading volume of 1,215,554 shares, compared to its average volume of 1,385,529. The stock's 50-day moving average price is $496.05 and its 200 day moving average price is $471.31. Deere & Company has a one year low of $340.20 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. The firm has a market capitalization of $139.25 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 3.31 and a beta of 1.09.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the prior year, the firm posted $8.53 EPS. Deere & Company's quarterly revenue was down 17.9% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

Analyst Upgrades and Downgrades

DE has been the topic of several analyst reports. Truist Financial upped their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Barclays lifted their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Raymond James Financial upped their price objective on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $515.19.

Deere & 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.