Avior Wealth Management LLC Increases Stock Position in Deere & Company (NYSE:DE)

Avior Wealth Management LLC increased its position in shares of Deere & Company (NYSE:DE) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,149 shares of the industrial products company’s stock after buying an additional 97 shares during the quarter. Avior Wealth Management LLC’s holdings in Deere & Company were worth $1,659,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DE. RB Capital Management LLC lifted its holdings in Deere & Company by 5.2% during the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP purchased a new position in Deere & Company during the first quarter valued at $14,541,000. Retirement Income Solutions Inc purchased a new position in Deere & Company during the first quarter valued at $229,000. Sequoia Financial Advisors LLC lifted its holdings in Deere & Company by 27.1% during the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after purchasing an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of Deere & Company by 32.4% in the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after buying an additional 27,985 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Morgan Stanley assumed coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target on the stock. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Stifel Nicolaus decreased their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Price Performance

Shares of DE opened at $393.01 on Wednesday. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The stock has a market cap of $109.40 billion, a PE ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. The firm has a 50-day simple moving average of $384.95 and a two-hundred day simple moving average of $382.56. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period last year, the business earned $6.55 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio 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.