SG Trading Solutions LLC Buys Shares of 1,165 Deere & Company $DE

SG Trading Solutions LLC purchased a new position in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,165 shares of the industrial products company’s stock, valued at approximately $542,000.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Norges Bank acquired a new stake in Deere & Company in the fourth quarter worth approximately $1,715,633,000. Capital World Investors increased its position in shares of Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after purchasing an additional 1,893,972 shares during the period. M&T Bank Corp raised its stake in shares of Deere & Company by 1,199.8% in the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock worth $868,149,000 after buying an additional 1,721,239 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.5% in the 4th quarter. Wellington Management Group LLP now owns 2,436,723 shares of the industrial products company’s stock worth $1,134,465,000 after buying an additional 597,087 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

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

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the firm earned $6.64 earnings per share. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 18.13 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Sanford C. Bernstein raised their target price on Deere & Company from $521.00 to $615.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. 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 report on Tuesday, May 26th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a research report on Monday, June 1st. Raymond James Financial cut their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $560.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $639.58.

About Deere & Company

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.