Sage Investment Advisers LLC Makes New Investment in Deere & Company $DE

Key Points

• Sage Investment Advisers LLC opened a new position in Deere & Company during the fourth quarter, buying 2,330 shares valued at about $1.085 million.
• Deere reported better-than-expected fiscal results, with quarterly EPS of $6.55 versus the $5.70 estimate and revenue of $13.37 billion, up 5.4% year over year.
• The company also announced a quarterly dividend of $1.62 per share, payable August 10, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $638.08.

Sage Investment Advisers LLC acquired a new position in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,330 shares of the industrial products company's stock, valued at approximately $1,085,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. New Mexico Educational Retirement Board grew its stake in shares of Deere & Company by 0.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 11,502 shares of the industrial products company's stock worth $5,355,000 after buying an additional 100 shares in the last quarter. Ellevest Inc. increased its position in Deere & Company by 32.2% during the fourth quarter. Ellevest Inc. now owns 1,038 shares of the industrial products company's stock valued at $483,000 after acquiring an additional 253 shares during the last quarter. SCS Capital Management LLC increased its position in Deere & Company by 5.5% during the fourth quarter. SCS Capital Management LLC now owns 634 shares of the industrial products company's stock valued at $295,000 after acquiring an additional 33 shares during the last quarter. Frederick Financial Consultants LLC increased its position in Deere & Company by 2.5% during the fourth quarter. Frederick Financial Consultants LLC now owns 1,020 shares of the industrial products company's stock valued at $475,000 after acquiring an additional 25 shares during the last quarter. Finally, Virtue Asset Management LLC increased its position in Deere & Company by 2.4% during the fourth quarter. Virtue Asset Management LLC now owns 4,494 shares of the industrial products company's stock valued at $2,092,000 after acquiring an additional 106 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.0%

NYSE DE opened at $542.34 on Monday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The company's 50-day moving average price is $572.29 and its 200-day moving average price is $542.55. The stock has a market cap of $146.40 billion, a PE ratio of 30.73, a PEG ratio of 2.01 and a beta of 0.92.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion for the quarter, compared to analysts' expectations of $11.55 billion. During the same period in the prior year, the business earned $6.64 EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Deere & Company's dividend payout ratio is presently 36.71%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DE shares. Royal Bank Of Canada boosted their price objective on shares of Deere & Company from $736.00 to $752.00 and gave the company an "outperform" rating in a research report on Tuesday, May 26th. Argus boosted their price objective on shares of Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Weiss Ratings upgraded shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 21st. DA Davidson cut their price objective on shares of Deere & Company from $775.00 to $685.00 and set a "buy" rating on the stock in a research report on Friday, May 22nd. Finally, Sanford C. Bernstein boosted their price objective on shares of Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a research report on Friday, February 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $638.08.

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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