Sovran Advisors LLC Acquires New Holdings in Deere & Company (NYSE:DE)

Sovran Advisors LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 834 shares of the industrial products company’s stock, valued at approximately $361,000.

Several other hedge funds have also modified their holdings of the company. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in Deere & Company in the fourth quarter valued at about $32,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the third quarter valued at about $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the fourth quarter valued at about $34,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $35,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DE has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. UBS Group lifted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Citigroup cut their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $446.17.

Deere & Company Price Performance

NYSE:DE opened at $476.53 on Thursday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $129.78 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The stock’s 50-day moving average price is $445.46 and its 200-day moving average price is $414.70.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.26 earnings per share. As a group, equities analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is presently 25.31%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.