Capital Investment Advisory Services LLC Raises Stock Position in Deere & Company (NYSE:DE)

Capital Investment Advisory Services LLC boosted its position in Deere & Company (NYSE:DE) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,755 shares of the industrial products company’s stock after acquiring an additional 61 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Deere & Company were worth $702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI raised its stake in shares of Deere & Company by 0.6% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 18,973 shares of the industrial products company’s stock worth $7,587,000 after buying an additional 107 shares during the last quarter. PSI Advisors LLC raised its position in shares of Deere & Company by 28.8% in the 4th quarter. PSI Advisors LLC now owns 1,880 shares of the industrial products company’s stock worth $752,000 after buying an additional 420 shares during the period. Cetera Trust Company N.A acquired a new position in shares of Deere & Company in the 4th quarter valued at about $130,000. Matthew 25 Management Corp grew its stake in Deere & Company by 9.3% during the fourth quarter. Matthew 25 Management Corp now owns 14,750 shares of the industrial products company’s stock worth $5,898,000 after buying an additional 1,250 shares during the period. Finally, Handelsbanken Fonder AB raised its position in Deere & Company by 2.2% in the fourth quarter. Handelsbanken Fonder AB now owns 96,617 shares of the industrial products company’s stock valued at $38,634,000 after purchasing an additional 2,075 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Stifel Nicolaus dropped their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company decreased their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Finally, Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Ten research 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.com, the company currently has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Performance

DE stock opened at $399.61 on Tuesday. The firm has a 50 day moving average of $386.06 and a two-hundred day moving average of $383.26. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The company has a market capitalization of $111.24 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 1.50 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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 net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period in the prior year, the company posted $6.55 earnings per share. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 27.4 EPS for the current fiscal year.

Deere & Company Announces Dividend

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