Meeder Asset Management Inc. Has $6.94 Million Stock Position in Deere & Company (NYSE:DE)


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Meeder Asset Management Inc. lifted its stake in shares of Deere & Company (NYSE:DE) by 933.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,556 shares of the industrial products company’s stock after purchasing an additional 16,760 shares during the period. Meeder Asset Management Inc.’s holdings in Deere & Company were worth $6,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DE. Klaas Financial Asset Advisors LLC bought a new stake in Deere & Company in the fourth quarter valued at approximately $26,000. Grant Street Asset Management Inc. bought a new position in Deere & Company in the 4th quarter valued at $27,000. Brand Asset Management Group Inc. purchased a new stake in shares of Deere & Company during the 1st quarter worth $27,000. Leelyn Smith LLC raised its position in Deere & Company by 2,500.0% during the fourth quarter. Leelyn Smith LLC now owns 104 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Finally, Syverson Strege & Co acquired a new position in Deere & Company in the 4th quarter valued at $28,000. 66.77% of the stock is owned by institutional investors.

Shares of DE stock traded up $2.17 during mid-day trading on Tuesday, reaching $375.94. 19,056 shares of the company were exchanged, compared to its average volume of 1,723,536. The business’s 50 day simple moving average is $374.56 and its 200 day simple moving average is $305.50. The company has a market capitalization of $117.83 billion, a P/E ratio of 42.96, a P/E/G ratio of 1.43 and a beta of 0.96. Deere & Company has a fifty-two week low of $117.85 and a fifty-two week high of $392.42. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.03 and a current ratio of 2.24.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 18th. The industrial products company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $1.70. The business had revenue of $8.05 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Deere & Company had a net margin of 7.74% and a return on equity of 22.17%. The company’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 earnings per share. On average, analysts forecast that Deere & Company will post 13.09 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Investors of record on Wednesday, March 31st will be issued a dividend of $0.90 per share. This is a boost from Deere & Company’s previous quarterly dividend of $0.76. This represents a $3.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, March 30th. Deere & Company’s dividend payout ratio (DPR) is currently 41.43%.

Several research analysts recently weighed in on the company. Citigroup increased their price objective on Deere & Company from $325.00 to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 10th. Wolfe Research started coverage on Deere & Company in a report on Monday, April 19th. They issued an “outperform” rating and a $425.00 price objective on the stock. Jefferies Financial Group increased their price target on shares of Deere & Company from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, January 15th. Robert W. Baird lifted their price objective on Deere & Company from $353.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, February 25th. Finally, Credit Suisse Group lifted their price target on Deere & Company from $343.00 to $403.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $327.95.

Deere & Company Company Profile

Deere & Company, together with its subsidiaries, manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment provides various agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; tillage, seeding, and application equipment comprising sprayers, nutrient management, and soil preparation machinery; self-propelled forage harvesters and attachments, balers, and mowers; riding lawn equipment, golf course equipment, utility vehicles, and commercial mowing equipment along with associated implements; integrated agricultural solutions and precision technologies; and other outdoor power products.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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