Miracle Mile Advisors LLC Has $1.29 Million Position in Deere & Company (NYSE:DE)

Miracle Mile Advisors LLC lowered its position in Deere & Company (NYSE:DEFree Report) by 19.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,233 shares of the industrial products company’s stock after selling 773 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Deere & Company were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in DE. BLB&B Advisors LLC increased its position in Deere & Company by 2.8% during the 4th quarter. BLB&B Advisors LLC now owns 24,210 shares of the industrial products company’s stock valued at $9,681,000 after purchasing an additional 654 shares during the period. PFG Advisors increased its position in Deere & Company by 2.2% during the 4th quarter. PFG Advisors now owns 6,365 shares of the industrial products company’s stock valued at $2,545,000 after purchasing an additional 137 shares during the period. Mainsail Financial Group LLC increased its position in Deere & Company by 13.6% during the 4th quarter. Mainsail Financial Group LLC now owns 2,801 shares of the industrial products company’s stock valued at $1,061,000 after purchasing an additional 335 shares during the period. Worth Financial Advisory Group LLC increased its position in Deere & Company by 7.7% during the 4th quarter. Worth Financial Advisory Group LLC now owns 2,484 shares of the industrial products company’s stock valued at $993,000 after purchasing an additional 177 shares during the period. Finally, Pinnacle Associates Ltd. increased its position in Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on DE shares. Morgan Stanley assumed coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price for the company. Evercore ISI increased their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. increased their price target on Deere & Company from $380.00 to $385.00 and gave the stock a “neutral” rating in a report on Monday, December 4th. Citigroup cut their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average target price of $431.28.

Check Out Our Latest Analysis on DE

Deere & Company Price Performance

Shares of DE opened at $404.14 on Tuesday. The stock has a market cap of $112.50 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.54 and a beta of 1.04. The business’s fifty day moving average is $381.59 and its 200 day moving average is $381.51. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.55 EPS. Sell-side analysts anticipate that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.12%.

About Deere & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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