HTLF Bank Makes New Investment in Deere & Company (NYSE:DE)

HTLF Bank acquired a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,542 shares of the industrial products company’s stock, valued at approximately $617,000.

A number of other hedge funds have also made changes to their positions in DE. Moneta Group Investment Advisors LLC increased its stake in shares of Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after acquiring an additional 3,216,801 shares during the period. Norges Bank acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $1,326,177,000. International Assets Investment Management LLC boosted its holdings in Deere & Company by 46,241.1% during the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after buying an additional 838,813 shares in the last quarter. Morgan Stanley boosted its holdings in Deere & Company by 13.8% during the fourth quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after buying an additional 554,133 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Deere & Company by 561.5% during the first quarter. First Trust Advisors LP now owns 531,339 shares of the industrial products company’s stock worth $219,379,000 after buying an additional 451,019 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on DE shares. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Morgan Stanley started coverage on shares of Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company 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 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Down 0.1 %

Deere & Company stock opened at $400.39 on Friday. The company has a market capitalization of $111.45 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.50 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 company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The firm’s fifty day simple moving average is $385.86 and its 200-day simple moving average is $382.97.

Deere & Company (NYSE:DE) last announced its 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. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.55 EPS. Sell-side analysts forecast that Deere & Company will post 27.4 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.47%. 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.