D Orazio & Associates Inc. Makes New Investment in Deere & Company (NYSE:DE)

D Orazio & Associates Inc. bought a new position in shares of Deere & Company (NYSE:DE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 481 shares of the industrial products company’s stock, valued at approximately $226,000.

Several other large investors have also added to or reduced their stakes in DE. Brighton Jones LLC grew its holdings in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares in the last quarter. ABC Arbitrage SA bought a new stake in shares of Deere & Company in the 4th quarter worth $1,219,000. WealthPlan Investment Management LLC raised its holdings in shares of Deere & Company by 37.5% in the fourth quarter. WealthPlan Investment Management LLC now owns 1,156 shares of the industrial products company’s stock valued at $490,000 after purchasing an additional 315 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $70,000. Finally, Montag A & Associates Inc. boosted its holdings in Deere & Company by 104.3% during the fourth quarter. Montag A & Associates Inc. now owns 9,818 shares of the industrial products company’s stock worth $4,175,000 after purchasing an additional 5,012 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $509.04 on Monday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock’s 50 day simple moving average is $487.24 and its two-hundred day simple moving average is $468.55. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a market cap of $137.86 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.53 EPS. As a group, analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Raymond James lifted their target price on Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a report on Friday, May 16th. Finally, Truist Financial upped their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average target price of $515.19.

Deere & 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.