Deere & Company (NYSE:DE) Position Increased by Key Financial Inc

Key Financial Inc increased its position in shares of Deere & Company (NYSE:DE) by 1,875.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 237 shares of the industrial products company’s stock after acquiring an additional 225 shares during the period. Key Financial Inc’s holdings in Deere & Company were worth $95,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Associates Ltd. raised its holdings in shares of Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after acquiring an additional 939 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after buying an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after buying an additional 900 shares in the last quarter. Centric Wealth Management bought a new position in Deere & Company during the third quarter valued at about $2,640,000. Finally, Graham Capital Management L.P. raised its holdings in Deere & Company by 483.3% during the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock valued at $6,604,000 after buying an additional 14,500 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DE. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Morgan Stanley assumed coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. Truist Financial assumed coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Citigroup lowered their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Price Performance

NYSE DE opened at $397.01 on Thursday. The stock has a market cap of $110.51 billion, a price-to-earnings ratio of 11.56, a PEG 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 business has a 50 day simple moving average of $385.17 and a 200 day simple moving average of $382.66. 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) last released its quarterly earnings data 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. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.55 EPS. Analysts anticipate that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.48%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is 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.