Vivid Wealth Management LLC Raises Stock Holdings in Deere & Company $DE

Key Points

• Vivid Wealth Management increased its position in Deere & Company by 422.0% in Q4, adding 5,680 shares to hold 7,026 shares worth $3.271 million (1.3% of its portfolio, the firm's 15th largest position).
• Deere beat expectations with Q results of $2.42 EPS vs. $1.90 estimate and revenue of $9.61B (up 17.5% YoY), and analysts have a consensus "Moderate Buy" with an average target price of $655.45.
• Institutional buying was notable—most prominently, M&T Bank increased its holding by 1,199.8% (adding 1,721,239 shares to 1,864,701 shares), and overall institutional ownership is 68.58%.

Vivid Wealth Management LLC increased its position in Deere & Company (NYSE:DE - Free Report) by 422.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,026 shares of the industrial products company's stock after purchasing an additional 5,680 shares during the period. Deere & Company accounts for 1.3% of Vivid Wealth Management LLC's portfolio, making the stock its 15th biggest position. Vivid Wealth Management LLC's holdings in Deere & Company were worth $3,271,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DE. Vanguard Group Inc. grew its position in shares of Deere & Company by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 22,583,185 shares of the industrial products company's stock worth $10,514,053,000 after purchasing an additional 198,332 shares in the last quarter. Capital World Investors lifted its stake in shares of Deere & Company by 5.5% during the 3rd quarter. Capital World Investors now owns 6,233,740 shares of the industrial products company's stock worth $2,850,687,000 after acquiring an additional 322,582 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Deere & Company by 5.5% during the 3rd quarter. Fisher Asset Management LLC now owns 2,722,018 shares of the industrial products company's stock worth $1,244,670,000 after acquiring an additional 141,790 shares during the last quarter. M&T Bank Corp increased its holdings in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Deere & Company by 21.7% in the 3rd quarter. Invesco Ltd. now owns 1,815,007 shares of the industrial products company's stock valued at $829,930,000 after acquiring an additional 323,512 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DE shares. Sanford C. Bernstein boosted their price target on Deere & Company from $521.00 to $615.00 and gave the company a "market perform" rating in a research note on Friday, February 20th. Citigroup cut their price objective on Deere & Company from $675.00 to $625.00 and set a "neutral" rating for the company in a research note on Monday, March 9th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a research report on Friday, April 10th. Raymond James Financial restated an "outperform" rating and set a $765.00 price target on shares of Deere & Company in a research note on Monday, February 23rd. Finally, Jefferies Financial Group upgraded Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price objective on the stock in a research note on Wednesday, April 8th. Sixteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $655.45.

Deere & Company Price Performance

DE stock opened at $568.76 on Tuesday. The stock's 50 day moving average price is $592.93 and its 200 day moving average price is $527.35. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.96 and a current ratio of 2.21. The firm has a market cap of $153.63 billion, a P/E ratio of 32.06, a PEG ratio of 1.96 and a beta of 0.98. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period in the prior year, the firm posted $3.19 EPS. The business's revenue for the quarter was up 17.5% on a year-over-year basis. On average, sell-side analysts expect that Deere & Company will post 18.01 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company's dividend payout ratio (DPR) is presently 36.53%.

Deere & Company Company Profile

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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