Strategic Investment Advisors MI Has $571,000 Stake in Deere & Company (NYSE:DE)

Strategic Investment Advisors MI boosted its position in shares of Deere & Company (NYSE:DE) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,348 shares of the industrial products company’s stock after purchasing an additional 187 shares during the period. Strategic Investment Advisors MI’s holdings in Deere & Company were worth $571,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lighthouse Investment Partners LLC bought a new stake in Deere & Company during the second quarter worth approximately $237,000. Scientech Research LLC bought a new stake in Deere & Company in the second quarter valued at about $799,000. Kathmere Capital Management LLC grew its stake in shares of Deere & Company by 74.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 992 shares of the industrial products company’s stock valued at $371,000 after purchasing an additional 422 shares during the period. SkyView Investment Advisors LLC raised its stake in Deere & Company by 14.1% during the second quarter. SkyView Investment Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $385,000 after acquiring an additional 127 shares in the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Deere & Company by 11.6% in the 2nd quarter. Ascent Group LLC now owns 1,620 shares of the industrial products company’s stock worth $605,000 after purchasing an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Citigroup decreased their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Price Performance

Shares of DE opened at $478.90 on Monday. The stock has a 50 day simple moving average of $438.55 and a 200 day simple moving average of $406.05. Deere & Company has a 52-week low of $340.20 and a 52-week high of $479.48. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market capitalization of $130.43 billion, a PE ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s dividend payout ratio is 25.31%.

Deere & Company 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.