Duality Advisers LP Makes New $461,000 Investment in Deere & Company (NYSE:DE)

Duality Advisers LP purchased a new position in Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,152 shares of the industrial products company’s stock, valued at approximately $461,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley grew its position in shares of Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC grew its position in shares of 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 purchasing an additional 269,571 shares in the last quarter. Northern Trust Corp grew its position in shares of Deere & Company by 2.5% during the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after purchasing an additional 73,601 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Deere & Company by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock worth $581,052,000 after purchasing an additional 33,946 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd grew its position in shares of Deere & Company by 1.1% during the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,146,220 shares of the industrial products company’s stock worth $432,561,000 after purchasing an additional 12,825 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $393.96 on Friday. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The firm has a market capitalization of $109.66 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.48 and a beta of 1.04. The stock has a 50 day moving average price of $387.20 and a 200 day moving average price of $383.54.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $10.30 billion. During the same period last year, the company earned $6.55 EPS. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 27.37 earnings per share for the current 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 dividend 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%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DE shares. Wells Fargo & Company cut their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Stifel Nicolaus cut their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Finally, Evercore ISI raised their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average price target of $433.28.

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.