Retirement Planning Group LLC NY bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 750 shares of the industrial products company's stock, valued at approximately $318,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC increased its holdings in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 26 shares in the last quarter. YANKCOM Partnership purchased a new position in Deere & Company during the 4th quarter valued at about $34,000. Orion Capital Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new position in Deere & Company during the 4th quarter valued at about $35,000. Finally, Sierra Ocean LLC purchased a new position in Deere & Company during the 4th quarter valued at about $44,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.
Deere & Company Stock Down 0.2%
Deere & Company stock traded down $0.86 during trading on Tuesday, reaching $509.20. 1,103,513 shares of the company's stock were exchanged, compared to its average volume of 1,408,677. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The firm has a market cap of $138.20 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company's 50-day moving average is $473.20 and its two-hundred day moving average is $459.86.
Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $8.53 earnings per share. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company's payout ratio is currently 31.35%.
Analysts Set New Price Targets
DE has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Deere & Company from $450.00 to $550.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. DA Davidson reiterated a "buy" rating and set a $542.00 price target on shares of Deere & Company in a report on Friday, May 16th. Evercore ISI lifted their price target on shares of Deere & Company from $455.00 to $493.00 and gave the stock an "in-line" rating in a report on Monday, May 19th. Barclays lifted their price target on shares of Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Truist Financial lifted their price target on shares of Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $516.75.
Read Our Latest Stock Report on Deere & Company
Deere & Company Profile
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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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