Mariner LLC Increases Stake in Deere & Company $DE

Mariner LLC raised its position in Deere & Company (NYSE:DE) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 142,813 shares of the industrial products company’s stock after acquiring an additional 1,790 shares during the period. Mariner LLC owned approximately 0.05% of Deere & Company worth $66,490,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after purchasing an additional 1,278 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in Deere & Company by 7.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after acquiring an additional 150 shares in the last quarter. Jump Financial LLC purchased a new position in Deere & Company during the 2nd quarter valued at about $2,153,000. NewEdge Advisors LLC increased its holdings in Deere & Company by 6.0% during the 2nd quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock valued at $9,538,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.3%

DE stock opened at $575.87 on Tuesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19. The firm has a fifty day moving average price of $573.28 and a two-hundred day moving average price of $549.86. The firm has a market cap of $155.45 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.14 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its 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 net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the previous year, the firm earned $6.64 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DE shares. Wells Fargo & Company raised their price target on shares of Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Truist Financial reduced their price target on shares of Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. Morgan Stanley lifted their price target on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a research report on Monday, February 23rd. BMO Capital Markets lifted their price target on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research report on Friday, February 20th. Finally, DA Davidson dropped their price objective on shares of Deere & Company from $775.00 to $685.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

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.