Centerpoint Advisory Group Purchases Shares of 613 Deere & Company (NYSE:DE)

Centerpoint Advisory Group purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 613 shares of the industrial products company's stock, valued at approximately $288,000.

A number of other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD grew its holdings in 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 valued at $2,792,082,000 after buying an additional 1,095,736 shares during the last quarter. Capital World Investors lifted its position in shares of Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC boosted its stake in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC increased its position in Deere & Company by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock worth $2,247,216,000 after purchasing an additional 97,203 shares in the last quarter. Finally, Norges Bank purchased a new stake in Deere & Company during the 4th quarter worth about $1,244,094,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock opened at $520.66 on Monday. The company has a market cap of $141.01 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.31 and a beta of 1.09. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The stock has a 50-day moving average price of $495.13 and a two-hundred day moving average price of $470.82. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.53 EPS. As a group, research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.24%. Deere & Company's dividend payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial upped their target price on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. Bank of America boosted their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Raymond James Financial raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, Barclays boosted their price target on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $515.19.

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.

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