Indivisible Partners Invests $1.06 Million in Deere & Company $DE

Key Points

• Indivisible Partners opened a new Q4 position in Deere, purchasing 2,283 shares worth about $1.06 million, while overall institutional ownership of DE stands at 68.58%.
• Deere reported stronger-than-expected results for the quarter—EPS $2.42 vs. $1.90 expected and revenue $9.61B (up 17.5% YoY) — signaling robust growth and margin performance.
• Several analysts raised price targets (examples range up to the $700s), leaving a consensus target of $655.45 and a majority of Buy/Moderate Buy ratings; the company also declared a quarterly dividend of $1.62 ($6.48 annual, ~1.1% yield).

Indivisible Partners bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,283 shares of the industrial products company's stock, valued at approximately $1,063,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Strategic Advocates LLC purchased a new stake in shares of Deere & Company during the third quarter worth about $25,000. Key Capital Management INC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $27,000. Activest Wealth Management increased its position in shares of Deere & Company by 69.2% during the third quarter. Activest Wealth Management now owns 66 shares of the industrial products company's stock worth $30,000 after acquiring an additional 27 shares during the last quarter. McIlrath & Eck LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of Deere & Company during the third quarter worth about $32,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the topic of a number of analyst reports. Sanford C. Bernstein lifted their target price on Deere & Company from $521.00 to $615.00 and gave the stock a "market perform" rating in a research report on Friday, February 20th. Oppenheimer reaffirmed an "outperform" rating and set a $715.00 target price on shares of Deere & Company in a research report on Friday, February 20th. Bank of America boosted their price objective on Deere & Company from $502.00 to $672.00 and gave the company a "neutral" rating in a report on Friday, February 20th. Royal Bank Of Canada boosted their price objective on Deere & Company from $541.00 to $736.00 and gave the company an "outperform" rating in a report on Friday, February 20th. Finally, Truist Financial boosted their price objective on Deere & Company from $612.00 to $793.00 and gave the company a "buy" rating in a report on Friday, February 20th. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $655.45.

Deere & Company Stock Up 3.0%

Shares of Deere & Company stock opened at $592.84 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The firm has a market cap of $160.13 billion, a P/E ratio of 33.42, a P/E/G ratio of 2.01 and a beta of 0.96. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week high of $674.19. The business has a 50-day moving average price of $587.56 and a 200 day moving average price of $531.89.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.Deere & Company's quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.19 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 18.01 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend payout ratio is 36.53%.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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