AJOVista LLC Invests $166,000 in Deere & Company (NYSE:DE)

AJOVista LLC acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 414 shares of the industrial products company’s stock, valued at approximately $166,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after purchasing an additional 838,813 shares during the last quarter. FMR LLC boosted its position in shares of Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after buying an additional 269,571 shares in the last quarter. Fisher Asset Management LLC grew its stake in Deere & Company by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,480,725 shares of the industrial products company’s stock valued at $592,098,000 after acquiring an additional 149,980 shares during the last quarter. Quadrature Capital Ltd increased its holdings in Deere & Company by 94.0% during the 3rd quarter. Quadrature Capital Ltd now owns 301,396 shares of the industrial products company’s stock valued at $113,759,000 after acquiring an additional 146,069 shares in the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in Deere & Company during the fourth quarter worth about $43,384,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

Shares of DE traded up $5.00 during midday trading on Friday, reaching $400.96. 1,626,960 shares of the company were exchanged, compared to its average volume of 1,337,641. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The stock has a 50-day moving average price of $391.45 and a 200-day moving average price of $383.91. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company has a market cap of $111.61 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping 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 firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the previous year, the company posted $6.55 EPS. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. Research analysts expect that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared 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 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Wells Fargo & Company reduced their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $433.28.

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.