Deere & Company (NYSE:DE) Shares Acquired by South Dakota Investment Council

South Dakota Investment Council boosted its holdings in shares of Deere & Company (NYSE:DE) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,127 shares of the industrial products company’s stock after purchasing an additional 1,300 shares during the quarter. South Dakota Investment Council’s holdings in Deere & Company were worth $3,650,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Essex Savings Bank increased its holdings in Deere & Company by 0.5% during the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 26 shares during the last quarter. Valley National Advisers Inc. increased its holdings in shares of Deere & Company by 1.5% in the 4th quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 27 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Deere & Company by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares during the last quarter. Simplicity Solutions LLC increased its holdings in shares of Deere & Company by 0.5% in the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after acquiring an additional 27 shares during the last quarter. Finally, SageView Advisory Group LLC increased its holdings in shares of Deere & Company by 2.4% in the 3rd quarter. SageView Advisory Group LLC now owns 1,201 shares of the industrial products company’s stock valued at $453,000 after acquiring an additional 28 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.7 %

Shares of DE stock opened at $394.62 on Thursday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The stock has a fifty day moving average of $386.62 and a two-hundred day moving average of $383.47. The firm has a market capitalization of $109.85 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced 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 company had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the previous year, the firm posted $6.55 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Truist Financial assumed coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Stifel Nicolaus lowered their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Morgan Stanley initiated coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. Finally, Evercore ISI upped their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average 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.