Aspire Capital Advisors LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

Aspire Capital Advisors LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,431 shares of the industrial products company’s stock after purchasing an additional 28 shares during the quarter. Aspire Capital Advisors LLC’s holdings in Deere & Company were worth $606,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DE. Wellington Management Group LLP boosted its stake in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC increased its position in Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC boosted its holdings in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Fisher Asset Management LLC grew its position in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after acquiring an additional 158,732 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Deere & Company by 5.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock valued at $722,733,000 after acquiring an additional 85,401 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $483.08 on Tuesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1-year low of $340.20 and a 1-year high of $484.39. The company has a market capitalization of $131.57 billion, a P/E ratio of 18.81, a PEG ratio of 2.84 and a beta of 0.98. The business has a 50 day moving average price of $438.55 and a 200 day moving average price of $406.44.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. Sell-side analysts expect that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.34%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Ratings Changes

A number of analysts recently weighed in on DE shares. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley increased their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Oppenheimer raised their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $444.50.

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.