Strong Tower Advisory Services Buys 2,678 Shares of Deere & Company (NYSE:DE)

Strong Tower Advisory Services lifted its position in shares of Deere & Company (NYSE:DE) by 37.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,919 shares of the industrial products company’s stock after purchasing an additional 2,678 shares during the quarter. Deere & Company accounts for approximately 1.8% of Strong Tower Advisory Services’ investment portfolio, making the stock its 22nd largest holding. Strong Tower Advisory Services’ holdings in Deere & Company were worth $3,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DE. Morgan Stanley boosted its holdings in Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC grew its position in Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after acquiring an additional 269,571 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Deere & Company by 104,373.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after acquiring an additional 3,216,801 shares in the last quarter. Norges Bank bought a new position in shares of Deere & Company during the fourth quarter valued at $1,326,177,000. Finally, Northern Trust Corp lifted its holdings in shares of Deere & Company by 2.5% during the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $410.74 on Friday. The stock’s fifty day simple moving average is $380.44 and its 200 day simple moving average is $381.52. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $114.33 billion, a PE ratio of 11.96, a PEG ratio of 1.54 and a beta of 1.03.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.55 EPS. On average, research analysts predict that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Citigroup decreased their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective for the company. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $431.69.

Deere & Company Company Profile

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.