Novem Group Invests $327,000 in Deere & Company (NYSE:DE)

Novem Group bought a new position in shares of Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 771 shares of the industrial products company's stock, valued at approximately $327,000.

Several other hedge funds have also made changes to their positions in DE. Atomi Financial Group Inc. increased its holdings 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 valued at $965,000 after purchasing an additional 580 shares during the period. 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 valued at $4,270,000 after purchasing an additional 1,611 shares during the period. Simon Quick Advisors LLC increased its holdings in shares of Deere & Company by 17.8% in the fourth quarter. Simon Quick Advisors LLC now owns 1,068 shares of the industrial products company's stock valued at $453,000 after purchasing an additional 161 shares during the period. XML Financial LLC increased its holdings in shares of Deere & Company by 10.2% in the fourth quarter. XML Financial LLC now owns 911 shares of the industrial products company's stock valued at $386,000 after purchasing an additional 84 shares during the period. Finally, Albion Financial Group UT acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $515.56 on Friday. The stock has a market cap of $139.93 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 2.14 and a beta of 1.08. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78. The company's 50-day moving average price is $472.03 and its 200 day moving average price is $457.60. 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 (NYSE:DE - Get Free Report) last issued its quarterly earnings data 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 27.31% and a net margin of 12.94%. The firm had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the previous year, the firm posted $8.53 EPS. The company'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 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were paid 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 was Monday, March 31st. Deere & Company's payout ratio is currently 31.35%.

Analyst Upgrades and Downgrades

DE has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Citigroup raised their target price on shares of Deere & Company from $450.00 to $550.00 and gave the stock a "neutral" rating in a research note on Monday. Evercore ISI boosted their target price on Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a research report on Monday. Truist Financial boosted their target price on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Raymond James boosted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average price target of $516.75.

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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