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Stratos Investment Management LLC Takes Position in Deere & Company (NYSE:DE)

Deere & Company logo with Industrials background

Stratos Investment Management LLC bought a new position in Deere & Company (NYSE:DE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 578 shares of the industrial products company's stock, valued at approximately $271,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its position in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company's stock valued at $434,000 after purchasing an additional 22 shares during the period. First Bancorp Inc ME grew its holdings in Deere & Company by 4.7% in the first quarter. First Bancorp Inc ME now owns 509 shares of the industrial products company's stock worth $239,000 after purchasing an additional 23 shares during the last quarter. World Equity Group Inc. increased its position in Deere & Company by 4.5% during the 1st quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock valued at $244,000 after buying an additional 24 shares in the last quarter. Coppell Advisory Solutions LLC raised its stake in Deere & Company by 2.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after buying an additional 25 shares during the last quarter. Finally, Glen Eagle Advisors LLC boosted its holdings in Deere & Company by 0.9% in the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock worth $1,244,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Truist Financial upped their target price on Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. UBS Group reduced their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average target price of $515.19.

Get Our Latest Report on Deere & Company

Deere & Company Stock Up 0.3%

DE opened at $510.35 on Thursday. The company has a fifty day moving average of $509.35 and a two-hundred day moving average of $476.92. The stock has a market capitalization of $138.22 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 3.23 and a beta of 1.08. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. 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 (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, beating the consensus estimate of $5.72 by $0.92. The firm 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 24.39% and a net margin of 12.40%. Deere & Company's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.53 EPS. On average, research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. Deere & Company's dividend payout ratio (DPR) is 31.35%.

Deere & Company Company Profile

(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.

See Also

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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