SSA Swiss Advisors AG Acquires Shares of 7,525 Deere & Company (NYSE:DE)

Key Points

• SSA Swiss Advisors AG has purchased a new position in Deere & Company, acquiring 7,525 shares valued at approximately $3.6 million, making it the fund's 14th largest holding.
• Deere & Company's stock currently holds an average rating of "Hold" from analysts, with a price target range from $440 to $619.
• The company reported quarterly earnings of $6.64 per share, exceeding analysts' expectations, and will pay a $1.62 quarterly dividend to shareholders on August 8th.

SSA Swiss Advisors AG acquired a new stake in Deere & Company (NYSE:DE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,525 shares of the industrial products company's stock, valued at approximately $3,619,000. Deere & Company makes up approximately 1.9% of SSA Swiss Advisors AG's investment portfolio, making the stock its 14th biggest holding.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after acquiring an additional 1,278 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Deere & Company by 211.9% in the 4th quarter. Meeder Asset Management Inc. now owns 131 shares of the industrial products company's stock valued at $56,000 after buying an additional 89 shares in the last quarter. Summit Financial LLC lifted its stake in Deere & Company by 59.1% in the 4th quarter. Summit Financial LLC now owns 6,752 shares of the industrial products company's stock valued at $2,872,000 after buying an additional 2,509 shares in the last quarter. Tradewinds LLC. lifted its stake in Deere & Company by 6.8% in the 4th quarter. Tradewinds LLC. now owns 15,820 shares of the industrial products company's stock valued at $6,703,000 after buying an additional 1,006 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after buying an additional 97,203 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Up 3.2%

Deere & Company stock traded up $16.31 during trading on Thursday, reaching $524.18. 1,549,282 shares of the company's stock were exchanged, compared to its average volume of 1,018,595. The company's 50-day moving average is $512.43 and its two-hundred day moving average is $486.52. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11. 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 $141.96 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 3.22 and a beta of 1.08.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company's dividend payout ratio is 31.35%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DE. Barclays upped their target price on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Evercore ISI boosted their price target on Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a report on Monday, May 19th. Bank of America boosted their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Truist Financial boosted their price target on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. One 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $515.50.

Deere & 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.