Steele Capital Management Inc. Takes $3.94 Million Position in Deere & Company (NYSE:DE)

Steele Capital Management Inc. purchased a new position in shares of Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,845 shares of the industrial products company's stock, valued at approximately $3,937,000.

Other institutional investors have also modified their holdings of the company. Essex Savings Bank boosted its position in 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 acquiring an additional 26 shares during the last quarter. Valley National Advisers Inc. raised its stake in 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 purchasing an additional 27 shares during the period. Bleakley Financial Group LLC raised its position in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company's stock valued at $2,063,000 after buying an additional 27 shares during the period. Simplicity Solutions LLC increased its stake in 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 acquiring an additional 27 shares during the last quarter. Finally, Blue Chip Partners LLC raised its position in Deere & Company by 2.3% in the fourth quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company's stock valued at $489,000 after purchasing an additional 27 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 1.9 %

Shares of DE traded up $7.58 during mid-day trading on Monday, reaching $400.91. The company's stock had a trading volume of 847,074 shares, compared to its average volume of 1,465,234. The company has a market cap of $111.60 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The business has a fifty day moving average of $387.86 and a 200 day moving average of $383.52. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00.

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

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DE. Stifel Nicolaus cut their target price on Deere & Company from $435.00 to $425.00 and set a "buy" rating on the stock in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $425.00 to $401.00 and set a "hold" rating for the company in a report on Friday, February 16th. JPMorgan Chase & Co. boosted their target price on Deere & Company from $415.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, April 12th. Melius Research reaffirmed a "hold" rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They issued a "buy" rating and a $494.00 price objective for the company. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $433.28.

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.

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.