Virtu Financial LLC Buys 1,004 Shares of Deere & Company (NYSE:DE)

Key Points

• Virtu Financial LLC increased its holdings in Deere & Company by 10.7% in Q1, owning a total of 10,420 shares valued at $4.89 million.
• Several institutional investors also reported significant investments, including GAMMA Investing LLC, which raised its position by 61,215.9%, owning over 1.7 million shares valued at approximately $822.78 million.
• Deere & Company recently reported earnings of $6.64 per share, exceeding expectations, and announced a quarterly dividend of $1.62 per share, yielding 1.3%.

Virtu Financial LLC lifted its stake in Deere & Company (NYSE:DE - Free Report) by 10.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,420 shares of the industrial products company's stock after purchasing an additional 1,004 shares during the quarter. Virtu Financial LLC's holdings in Deere & Company were worth $4,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DE. GAMMA Investing LLC raised its position in Deere & Company by 61,215.9% during the first quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in Deere & Company during the fourth quarter valued at approximately $541,437,000. Price T Rowe Associates Inc. MD raised its position in Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in Deere & Company during the fourth quarter valued at approximately $255,686,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Deere & Company during the fourth quarter valued at approximately $149,057,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their price target on Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Wall Street Zen downgraded Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Citigroup lowered their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Truist Financial increased 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. Finally, Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average target price of $523.93.

Deere & Company Stock Performance

DE traded down $0.91 during trading on Tuesday, reaching $506.07. 1,285,771 shares of the company's stock were exchanged, compared to its average volume of 1,111,961. Deere & Company has a fifty-two week low of $346.00 and a fifty-two week high of $533.78. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The business has a 50 day moving average price of $512.30 and a 200 day moving average price of $489.69. The company has a market capitalization of $137.06 billion, a P/E ratio of 24.48, a PEG ratio of 3.21 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the previous year, the company earned $8.53 earnings per share. The business's revenue was down 17.9% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Monday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. 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.