Victrix Investment Advisors Makes New Investment in Deere & Company (NYSE:DE)

Victrix Investment Advisors bought a new stake in Deere & Company (NYSE:DE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 817 shares of the industrial products company's stock, valued at approximately $346,000.

Several other hedge funds have also modified their holdings of the stock. Park Avenue Securities LLC grew its position in Deere & Company by 39.1% in the fourth quarter. Park Avenue Securities LLC now owns 4,724 shares of the industrial products company's stock valued at $2,001,000 after acquiring an additional 1,328 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Deere & Company by 17.5% in the fourth quarter. Ritholtz Wealth Management now owns 3,419 shares of the industrial products company's stock valued at $1,449,000 after purchasing an additional 510 shares during the period. Merit Financial Group LLC boosted its stake in shares of Deere & Company by 11.8% in the fourth quarter. Merit Financial Group LLC now owns 8,464 shares of the industrial products company's stock valued at $3,586,000 after purchasing an additional 890 shares during the period. Lake Street Private Wealth LLC grew its holdings in Deere & Company by 19.9% during the 4th quarter. Lake Street Private Wealth LLC now owns 777 shares of the industrial products company's stock valued at $329,000 after purchasing an additional 129 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. increased its stake in Deere & Company by 5.4% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 5,998 shares of the industrial products company's stock worth $2,541,000 after buying an additional 307 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Baird R W lowered shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. DA Davidson reiterated a "buy" rating and issued a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. Evercore ISI increased 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. Oppenheimer raised their price objective on Deere & Company from $513.00 to $555.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Bank of America upped their target price on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a research 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. According to data from MarketBeat, Deere & Company currently has an average rating of "Hold" and an average price target of $516.75.

Deere & Company Stock Performance

DE traded up $0.90 during trading on Thursday, reaching $515.56. 948,493 shares of the company were exchanged, compared to its average volume of 1,413,853. The stock has a market cap of $139.93 billion, a P/E ratio of 22.85, a PEG ratio of 2.14 and a beta of 1.08. The firm has a 50 day moving average of $471.37 and a 200 day moving average of $456.81. 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 has a 52 week low of $340.20 and a 52 week high of $533.78.

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 (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The 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 company posted $8.53 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Shareholders 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 yield of 1.26%. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

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.