Aptus Capital Advisors LLC Acquires 1,014 Shares of Deere & Company $DE

Aptus Capital Advisors LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 45,547 shares of the industrial products company’s stock after acquiring an additional 1,014 shares during the period. Aptus Capital Advisors LLC’s holdings in Deere & Company were worth $21,206,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DE. Norges Bank bought a new position in shares of Deere & Company during the 4th quarter worth about $1,715,633,000. Capital World Investors lifted its holdings 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 worth $4,465,906,000 after acquiring an additional 3,358,264 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 last quarter. M&T Bank Corp lifted its holdings in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Deere & Company by 278.0% during the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock valued at $223,005,000 after purchasing an additional 358,687 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 1.5%

DE opened at $577.05 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The company has a market cap of $155.77 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The firm has a 50 day simple moving average of $573.27 and a 200 day simple moving average of $548.89. 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 posted its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.64 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 18.13 earnings per share for the current year.

Deere & Company Announces Dividend

The firm 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DE shares. UBS Group lifted their price target on shares of Deere & Company from $535.00 to $775.00 and gave the company a “buy” rating in a report on Friday, February 20th. Truist Financial cut their price target on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Citigroup cut their price target on shares of Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Wells Fargo & Company lifted their price target on shares of Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Finally, Bank of America cut their price target on shares of Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a report on Friday, May 22nd. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & 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.