Pacer Advisors Inc. Purchases 6,518 Shares of Deere & Company (NYSE:DE)

Pacer Advisors Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 34.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,516 shares of the industrial products company’s stock after purchasing an additional 6,518 shares during the period. Pacer Advisors Inc.’s holdings in Deere & Company were worth $10,811,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DE. Wellington Management Group LLP lifted its position in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC raised its stake in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares in the last quarter. FMR LLC lifted its position in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Fisher Asset Management LLC boosted its stake in Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after buying an additional 158,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Deere & Company by 5.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock worth $722,733,000 after buying an additional 85,401 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

DE opened at $480.59 on Wednesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The firm has a 50-day moving average of $440.14 and a 200 day moving average of $407.30. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market cap of $130.89 billion, a P/E ratio of 18.77, a PEG ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.26 EPS. On average, research analysts expect that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The business 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 dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, UBS Group upped their price objective 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. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.