4,479 Shares in Deere & Company (NYSE:DE) Bought by Skyline Advisors Inc.

Skyline Advisors Inc. bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,479 shares of the industrial products company’s stock, valued at approximately $1,791,000. Deere & Company accounts for approximately 0.9% of Skyline Advisors Inc.’s holdings, making the stock its 21st biggest position.

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock valued at $26,000 after buying an additional 59 shares during the period. ZRC Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $28,000. Rakuten Securities Inc. bought a new stake in shares of Deere & Company during the 4th quarter valued at $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $29,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at $29,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. DA Davidson cut their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. TD Cowen upped their price objective on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. cut their price objective on Deere & Company from $425.00 to $385.00 and set a “neutral” rating for the company in a report on Friday, May 17th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $433.36.

Deere & Company Stock Up 0.4 %

Shares of Deere & Company stock traded up $1.35 on Monday, reaching $379.35. The company’s stock had a trading volume of 1,227,891 shares, compared to its average volume of 1,461,484. The company has a market capitalization of $104.54 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 1.52 and a beta of 0.98. The firm’s fifty day simple moving average is $389.76 and its two-hundred day simple moving average is $386.51. Deere & Company has a 52 week low of $353.15 and a 52 week high of $450.00. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 EPS for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same quarter in the previous year, the company posted $9.65 earnings per share. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.55%. Deere & Company’s payout ratio is currently 17.70%.

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.