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

Opinicus Capital Inc. acquired a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, Holdings Channel reports. The fund acquired 2,988 shares of the industrial products company’s stock, valued at approximately $1,195,000. Deere & Company accounts for about 1.2% of Opinicus Capital Inc.’s portfolio, making the stock its 21st largest holding.

Several other hedge funds have also made changes to their positions in the business. Morgan Stanley boosted its holdings 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 worth $1,920,548,000 after purchasing an additional 65,006 shares during the last quarter. FMR LLC raised its position in shares of 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 raised its position in shares of 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 worth $1,155,430,000 after buying an additional 73,601 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 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 worth $581,052,000 after buying an additional 33,946 shares during the period. Finally, Rothschild & Co Wealth Management UK Ltd raised its position in shares of 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 worth $432,561,000 after buying an additional 12,825 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.2 %

NYSE:DE traded down $0.73 during mid-day trading on Friday, reaching $393.33. The stock had a trading volume of 998,338 shares, compared to its average volume of 1,243,125. The company has a market capitalization of $109.49 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The stock’s 50 day simple moving average is $387.86 and its two-hundred day simple moving average is $383.61. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

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

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s payout ratio is currently 17.12%.

Analyst Ratings Changes

DE has been the topic of several research reports. Evercore ISI increased their target price on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Morgan Stanley initiated coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Wells Fargo & Company cut their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Finally, Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research report 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.