Stephenson & Company Inc. Invests $225,000 in Deere & Company (NYSE:DE)

Stephenson & Company Inc. bought a new stake in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 563 shares of the industrial products company’s stock, valued at approximately $225,000.

A number of other large investors have also recently made changes to their positions in the company. RB Capital Management LLC increased its position in Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after acquiring an additional 81 shares during the period. Bornite Capital Management LP purchased a new stake in shares of Deere & Company during the first quarter worth approximately $14,541,000. Retirement Income Solutions Inc purchased a new stake in shares of Deere & Company during the first quarter worth approximately $229,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Deere & Company by 27.1% during the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares during the period. Finally, Baird Financial Group Inc. grew its position in Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after buying an additional 27,985 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DE. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Citigroup cut their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Stifel Nicolaus dropped their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Trading Down 0.1 %

Shares of DE opened at $400.32 on Friday. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The company has a market capitalization of $111.43 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04. The stock has a fifty day moving average of $385.86 and a two-hundred day moving average of $383.05. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the company earned $6.55 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 27.4 EPS for the current year.

Deere & Company Announces Dividend

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

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.