MONECO Advisors LLC Raises Stake in Deere & Company (NYSE:DE)

MONECO Advisors LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 42.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942 shares of the industrial products company’s stock after acquiring an additional 282 shares during the period. MONECO Advisors LLC’s holdings in Deere & Company were worth $377,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Briaud Financial Planning Inc bought a new stake in Deere & Company during the 3rd quarter valued at about $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $29,000. Finally, Bfsg LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DE. JPMorgan Chase & Co. upped their price target on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Wells Fargo & Company reduced their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. 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 target price on the stock. Finally, 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. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Performance

Shares of NYSE DE opened at $387.50 on Thursday. The stock has a market cap of $107.86 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The firm has a fifty day moving average price of $389.94 and a 200-day moving average price of $383.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (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 business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the prior year, the business posted $6.55 EPS. Deere & Company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.52%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

About Deere & Company

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.