IMA Advisory Services Inc. Grows Stake in Deere & Company $DE

IMA Advisory Services Inc. grew its position in Deere & Company (NYSE:DE) by 618.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,614 shares of the industrial products company’s stock after purchasing an additional 2,250 shares during the quarter. IMA Advisory Services Inc.’s holdings in Deere & Company were worth $1,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Advocates LLC bought a new stake in shares of Deere & Company in the third quarter valued at about $25,000. Key Capital Management INC bought a new position in Deere & Company during the 4th quarter worth about $27,000. McIlrath & Eck LLC purchased a new position in Deere & Company during the 4th quarter valued at about $30,000. Wealth Watch Advisors INC bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth approximately $34,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DE. Wolfe Research increased their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, March 31st. Truist Financial reduced their price objective on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a research note on Tuesday, May 26th. Wells Fargo & Company increased their price target on Deere & Company from $543.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Jefferies Financial Group raised shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price objective for the company in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a research note on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Stock Up 0.1%

Shares of DE opened at $583.80 on Monday. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $157.59 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.16 and a beta of 0.92. The stock’s 50-day moving average price is $572.86 and its 200-day moving average price is $546.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to analysts’ expectations of $11.55 billion. During the same period last year, the business earned $6.64 earnings per share. Deere & Company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 18.08 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, June 30th. Deere & Company’s payout ratio is currently 36.71%.

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.