SG Trading Solutions LLC Purchases New Holdings in Deere & Company $DE

SG Trading Solutions LLC acquired a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,165 shares of the industrial products company’s stock, valued at approximately $542,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Advocates LLC purchased a new stake in shares of Deere & Company in the third quarter valued at $25,000. Key Capital Management INC acquired a new stake in shares of Deere & Company in the fourth quarter worth $27,000. Timmons Wealth Management LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at $29,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at $30,000. Finally, Wealth Watch Advisors INC acquired a new position in Deere & Company during the third quarter valued at $32,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the subject of several research analyst reports. Raymond James Financial reduced their price objective on Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Truist Financial lowered their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research note on Tuesday, May 26th. Sanford C. Bernstein increased their price target on shares of Deere & Company from $521.00 to $615.00 and gave the stock a “market perform” rating in a research report on Friday, February 20th. DA Davidson decreased their price target on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price objective on shares of Deere & Company in a research report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $639.58.

Deere & Company Price Performance

Shares of NYSE:DE opened at $590.37 on Friday. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19. The business has a fifty day simple moving average of $573.71 and a 200 day simple moving average of $552.66. The firm has a market cap of $159.36 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.18 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The firm had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the company posted $6.64 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.