Skopos Labs Inc. Takes $561,000 Position in Deere & Company (NYSE:DE)

Skopos Labs Inc. acquired a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,404 shares of the industrial products company’s stock, valued at approximately $561,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new stake in Deere & Company during the 4th quarter worth about $28,000. Naples Money Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $29,000. Private Wealth Management Group LLC acquired a new stake in Deere & Company during the 4th quarter worth about $29,000. Finally, Bfsg LLC acquired a new stake in Deere & Company during the 4th quarter worth about $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup dropped their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company dropped their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Stifel Nicolaus raised their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $432.92.

Deere & Company Price Performance

DE traded down $4.28 during trading on Friday, reaching $374.96. The company’s stock had a trading volume of 1,511,751 shares, compared to its average volume of 1,459,758. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The firm has a fifty day simple moving average of $399.76 and a two-hundred day simple moving average of $386.40. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a market cap of $104.37 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The business had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. During the same period last year, the company posted $9.65 EPS. The business’s revenue was down 15.4% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 25.8 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. Deere & Company’s dividend payout ratio is currently 17.70%.

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.