Alpha Cubed Investments LLC Has $929,000 Holdings in Deere & Company (NYSE:DE)

Alpha Cubed Investments LLC boosted its stake in Deere & Company (NYSE:DE) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,324 shares of the industrial products company’s stock after purchasing an additional 182 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Deere & Company were worth $929,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Pinnacle Associates Ltd. raised its stake in Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after acquiring an additional 939 shares in the last quarter. Penserra Capital Management LLC raised its stake in Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after acquiring an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board raised its stake in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after acquiring an additional 900 shares in the last quarter. Centric Wealth Management acquired a new position in Deere & Company during the third quarter worth about $2,640,000. Finally, Graham Capital Management L.P. raised its stake in Deere & Company by 483.3% during the third quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after acquiring an additional 14,500 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DE shares. Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Stifel Nicolaus reduced their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, 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 report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

Shares of DE stock opened at $391.41 on Wednesday. The business’s 50 day simple moving average is $389.34 and its 200 day simple moving average is $383.73. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The stock has a market capitalization of $108.95 billion, a PE ratio of 11.40, a PEG ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.55 earnings per share. As a group, research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared 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 dividend yield of 1.50%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Deere & Company Company Profile

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.