ABC Arbitrage SA Purchases New Position in Deere & Company (NYSE:DE)

ABC Arbitrage SA purchased a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,876 shares of the industrial products company’s stock, valued at approximately $1,219,000.

Other large investors have also made changes to their positions in the company. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the period. Modus Advisors LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $32,000. Livelsberger Financial Advisory bought a new stake in Deere & Company during the third quarter worth approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the fourth quarter worth approximately $34,000. Finally, Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $35,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $480.17 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock has a fifty day moving average price of $446.95 and a two-hundred day moving average price of $416.21. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The firm has a market capitalization of $130.77 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, analysts anticipate that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DE shares. Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Citigroup upped their price target on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Truist Financial reiterated a “buy” rating and set a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday. Finally, Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus price target of $448.72.

Deere & Company 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.