Strategic Financial Concepts LLC Makes New $361,000 Investment in Deere & Company (NYSE:DE)

Strategic Financial Concepts LLC purchased a new position in Deere & Company (NYSE:DE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 880 shares of the industrial products company’s stock, valued at approximately $361,000.

Several other institutional investors have also modified their holdings of the business. Briaud Financial Planning Inc purchased a new position in Deere & Company in the third quarter worth approximately $25,000. True Wealth Design LLC lifted its position in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the last quarter. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $28,000. Rakuten Securities Inc. purchased a new position in Deere & Company in the fourth quarter valued at $28,000. Finally, Naples Money Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup lowered their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Truist Financial initiated 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. Morgan Stanley assumed coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Evercore ISI lifted their price target on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Performance

Shares of DE stock traded down $9.55 during midday trading on Tuesday, hitting $391.41. The company had a trading volume of 973,933 shares, compared to its average volume of 1,459,829. The stock has a market cap of $108.95 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.48 and a beta of 1.04. 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 company’s 50 day simple moving average is $389.34 and its 200 day simple moving average is $383.73. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the company earned $6.55 earnings per share. Research analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Deere & 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.