SkyView Investment Advisors LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

SkyView Investment Advisors LLC raised its stake in Deere & Company (NYSE:DE) by 6.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,098 shares of the industrial products company’s stock after purchasing an additional 68 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Deere & Company were worth $458,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DE. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter valued at about $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter valued at $32,000. Centennial Bank AR raised its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Continuum Advisory LLC boosted its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. Finally, Briaud Financial Planning Inc grew its stake in Deere & Company by 73.5% during the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial raised their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup increased their target price on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a report on Monday. Finally, Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $443.28.

Deere & Company Trading Down 1.9 %

Deere & Company stock opened at $439.48 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The stock has a market capitalization of $120.24 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. The firm has a 50 day simple moving average of $419.35 and a 200-day simple moving average of $391.72. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 EPS. As a group, equities research analysts expect that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 22.97%.

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.