Saxon Interests Inc. Buys Shares of 1,333 Deere & Company (NYSE:DE)

Saxon Interests Inc. purchased a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,333 shares of the industrial products company’s stock, valued at approximately $533,000.

Several other large investors have also modified their holdings of the business. Strong Tower Advisory Services lifted its stake in shares of Deere & Company by 37.0% in the 4th quarter. Strong Tower Advisory Services now owns 9,919 shares of the industrial products company’s stock valued at $3,966,000 after purchasing an additional 2,678 shares during the last quarter. Ballast Inc. lifted its stake in Deere & Company by 16.7% during the 4th quarter. Ballast Inc. now owns 2,459 shares of the industrial products company’s stock worth $983,000 after acquiring an additional 351 shares in the last quarter. Accel Wealth Management lifted its stake in Deere & Company by 1.6% during the 4th quarter. Accel Wealth Management now owns 6,919 shares of the industrial products company’s stock worth $2,767,000 after acquiring an additional 109 shares in the last quarter. Trueblood Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter worth about $525,000. Finally, Good Life Advisors LLC lifted its stake in Deere & Company by 9.8% during the 4th quarter. Good Life Advisors LLC now owns 3,049 shares of the industrial products company’s stock worth $1,219,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.4 %

DE traded up $1.60 on Friday, reaching $410.74. The company’s stock had a trading volume of 1,426,777 shares, compared to its average volume of 1,532,207. The stock has a market cap of $114.33 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.54 and a beta of 1.03. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The business’s 50 day moving average is $380.44 and its 200 day moving average is $381.52.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the business posted $6.55 earnings per share. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DE shares. Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Wells Fargo & Company reduced their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Citigroup reduced their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Morgan Stanley started coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $431.69.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.