United Asset Strategies Inc. Acquires Shares of 507 Deere & Company (NYSE:DE)

United Asset Strategies Inc. purchased a new position in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 507 shares of the industrial products company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Group LLC raised its holdings in shares of Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after buying an additional 45 shares during the period. Briaud Financial Planning Inc purchased a new stake in shares of Deere & Company in the third quarter worth approximately $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $28,000. Worth Asset Management LLC purchased a new stake in shares of Deere & Company in the first quarter worth approximately $28,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of Deere & Company in the third quarter worth approximately $37,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $397.01 on Thursday. The stock has a 50-day moving average of $385.17 and a two-hundred day moving average of $382.66. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The stock has a market cap of $110.51 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company 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 firm posted $6.55 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. Deere & Company’s payout ratio is currently 17.12%.

Analysts Set New Price Targets

Several research firms have commented on DE. Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Citigroup reduced their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Stifel Nicolaus reduced their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Evercore ISI increased their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company 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.