Montag A & Associates Inc. Raises Stock Holdings in Deere & Company (NYSE:DE)

Montag A & Associates Inc. increased its position in Deere & Company (NYSE:DE) by 7.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,097 shares of the industrial products company’s stock after purchasing an additional 616 shares during the period. Montag A & Associates Inc.’s holdings in Deere & Company were worth $3,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC purchased a new stake in shares of Deere & Company in the third quarter worth $1,550,000. Gratus Capital LLC grew its stake in shares of Deere & Company by 2.6% in the third quarter. Gratus Capital LLC now owns 3,060 shares of the industrial products company’s stock worth $1,155,000 after acquiring an additional 78 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Deere & Company by 0.5% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,110 shares of the industrial products company’s stock worth $7,966,000 after acquiring an additional 103 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Deere & Company by 0.8% in the third quarter. Whittier Trust Co. now owns 24,191 shares of the industrial products company’s stock worth $9,129,000 after acquiring an additional 183 shares during the last quarter. Finally, Smith Salley & Associates purchased a new stake in shares of Deere & Company in the third quarter worth $203,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 0.9 %

Shares of DE traded up $3.62 during trading hours on Thursday, hitting $409.04. The company had a trading volume of 994,202 shares, compared to its average volume of 1,446,885. The company has a market capitalization of $113.86 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company’s fifty day moving average price is $393.94 and its two-hundred day moving average price is $384.38.

Deere & Company (NYSE:DE) last announced its 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. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same period in the previous year, the business earned $6.55 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities analysts forecast 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 was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were issued a dividend of $1.47 per share. The ex-dividend date was Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s payout ratio is currently 17.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company lowered their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. increased their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Finally, Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.