PFG Investments LLC Raises Stock Position in Deere & Company (NYSE:DE)

PFG Investments LLC raised its stake in shares of Deere & Company (NYSE:DE - Free Report) by 53.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,083 shares of the industrial products company's stock after purchasing an additional 2,474 shares during the period. PFG Investments LLC's holdings in Deere & Company were worth $2,909,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Tompkins Financial Corp boosted its stake in Deere & Company by 2.6% in the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company's stock valued at $403,000 after acquiring an additional 25 shares in the last quarter. Essex Savings Bank lifted its stake in shares of Deere & Company by 0.5% during the fourth quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company's stock worth $2,146,000 after buying an additional 26 shares during the period. Valley National Advisers Inc. lifted its stake in shares of Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company's stock worth $751,000 after buying an additional 27 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Deere & Company by 0.5% during the fourth quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company's stock worth $2,063,000 after buying an additional 27 shares during the period. Finally, Simplicity Solutions LLC lifted its stake in shares of Deere & Company by 0.5% during the fourth quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company's stock worth $2,063,000 after buying an additional 27 shares during the period. Institutional investors own 68.58% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Melius cut shares of Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Deere & Company from $425.00 to $401.00 and set a "hold" rating for the company in a research note on Friday, February 16th. Morgan Stanley assumed coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an "overweight" rating and a $430.00 target price for the company. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a "buy" rating and a $494.00 target price for the company. Finally, Citigroup cut their target price on shares of Deere & Company from $450.00 to $435.00 and set a "buy" rating for the company in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $433.28.

Deere & Company Trading Down 0.2 %

NYSE:DE traded down $0.73 on Friday, hitting $393.33. 998,338 shares of the stock were exchanged, compared to its average volume of 1,243,125. The stock has a market capitalization of $109.49 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company's 50-day moving average price is $387.86 and its 200 day moving average price is $383.52. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company's revenue was down 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.55 EPS. On average, equities research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company's dividend payout ratio is currently 17.12%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

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