Strategic Investment Advisors MI Grows Stake in Deere & Company (NYSE:DE)

Strategic Investment Advisors MI increased its stake in Deere & Company (NYSE:DE) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,348 shares of the industrial products company’s stock after purchasing an additional 187 shares during the quarter. Strategic Investment Advisors MI’s holdings in Deere & Company were worth $571,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares during the last quarter. FMR LLC grew its stake in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after buying an additional 158,732 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Deere & Company by 5.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock worth $722,733,000 after purchasing an additional 85,401 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $478.90 on Monday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $479.48. The stock has a market capitalization of $130.43 billion, a P/E ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The business’s fifty day moving average price is $438.55 and its 200 day moving average price is $406.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 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 analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 earnings per share. As a group, research analysts anticipate that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report 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. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. raised their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Finally, UBS Group raised their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Eleven 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 presently has a consensus rating of “Hold” and an average price target of $442.83.

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.