VCI Wealth Management LLC Buys Shares of 2,915 Deere & Company (NYSE:DE)

VCI Wealth Management LLC bought a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,915 shares of the industrial products company’s stock, valued at approximately $1,166,000.

Several other institutional investors and hedge funds have also made changes to their positions in DE. International Assets Investment Management LLC increased its holdings in Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock valued at $336,142,000 after buying an additional 838,813 shares in the last quarter. FMR LLC boosted its position in Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after acquiring an additional 269,571 shares during the last quarter. Quadrature Capital Ltd boosted its position in Deere & Company by 94.0% during the third quarter. Quadrature Capital Ltd now owns 301,396 shares of the industrial products company’s stock worth $113,759,000 after acquiring an additional 146,069 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Deere & Company in the 4th quarter valued at about $43,384,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Deere & Company in the 3rd quarter valued at about $38,876,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Truist Financial began coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Morgan Stanley began coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target on the stock. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Down 0.2 %

Shares of Deere & Company stock traded down $0.66 during trading hours on Thursday, hitting $393.96. The company had a trading volume of 1,316,485 shares, compared to its average volume of 1,478,384. The company’s 50-day moving average is $386.62 and its two-hundred day moving average is $383.47. Deere & Company has a twelve month low of $345.55 and a twelve month 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 company has a market cap of $109.66 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04.

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

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 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.