Northern Financial Advisors Inc Boosts Holdings in Deere & Company (NYSE:DE)

Northern Financial Advisors Inc increased its holdings in Deere & Company (NYSE:DE) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,166 shares of the industrial products company’s stock after buying an additional 84 shares during the quarter. Northern Financial Advisors Inc’s holdings in Deere & Company were worth $466,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morgan Stanley lifted its position in shares of Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares during the last quarter. FMR LLC increased its holdings in Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after buying an additional 269,571 shares during the period. Northern Trust Corp grew its stake in shares of Deere & Company by 2.5% during the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after purchasing an additional 73,601 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Deere & Company by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock worth $581,052,000 after purchasing an additional 33,946 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Deere & Company by 11.3% during the 4th quarter. Fisher Asset Management LLC now owns 1,480,725 shares of the industrial products company’s stock valued at $592,098,000 after buying an additional 149,980 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE DE traded down $0.16 during mid-day trading on Wednesday, hitting $405.41. The stock had a trading volume of 251,384 shares, compared to its average volume of 1,447,510. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The company has a market cap of $112.85 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.51 and a beta of 1.04. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a 50 day simple moving average of $393.13 and a 200 day simple moving average of $384.23.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 analyst estimates of $10.30 billion. During the same quarter in the previous year, the business posted $6.55 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research reports. Stifel Nicolaus decreased their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Evercore ISI lifted their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Wells Fargo & Company decreased their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock 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.