Opinicus Capital Inc. Invests $1.20 Million in Deere & Company (NYSE:DE)

Opinicus Capital Inc. bought a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,988 shares of the industrial products company’s stock, valued at approximately $1,195,000. Deere & Company makes up approximately 1.2% of Opinicus Capital Inc.’s portfolio, making the stock its 21st biggest position.

Other hedge funds have also modified their holdings of the company. Morgan Stanley lifted its stake in Deere & Company by 1.3% in the 3rd 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 in the last quarter. FMR LLC lifted its stake 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 valued at $1,650,767,000 after buying an additional 269,571 shares in the last quarter. Northern Trust Corp lifted its stake in Deere & Company by 2.5% in the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after buying an additional 73,601 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Deere & Company by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock valued at $581,052,000 after buying an additional 33,946 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd lifted its stake in Deere & Company by 1.1% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,146,220 shares of the industrial products company’s stock valued at $432,561,000 after buying an additional 12,825 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.2 %

Shares of NYSE:DE traded down $0.73 during mid-day trading on Friday, reaching $393.33. 998,338 shares of the company were exchanged, compared to its average volume of 1,243,125. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The firm has a market cap of $109.49 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. The firm’s 50-day simple moving average is $387.86 and its 200 day simple moving average is $383.61. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00.

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, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $6.55 EPS. Equities research analysts forecast that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

The firm 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 $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.49%. Deere & Company’s dividend payout ratio is presently 17.12%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DE shares. 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. Citigroup cut their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Stifel Nicolaus cut their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Company Profile

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.