DMKC Advisory Services LLC Invests $1.87 Million in Deere & Company (NYSE:DE)

DMKC Advisory Services LLC acquired a new stake in shares of Deere & Company (NYSE:DE) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 4,410 shares of the industrial products company’s stock, valued at approximately $1,869,000. Deere & Company comprises about 1.7% of DMKC Advisory Services LLC’s investment portfolio, making the stock its 28th biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. Lake Street Advisors Group LLC grew its position in Deere & Company by 4.1% during the fourth quarter. Lake Street Advisors Group LLC now owns 2,601 shares of the industrial products company’s stock valued at $1,106,000 after buying an additional 103 shares during the period. Pinnacle West Asset Management Inc. grew its position in shares of Deere & Company by 3.9% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 4,023 shares of the industrial products company’s stock valued at $1,705,000 after acquiring an additional 150 shares during the period. FourThought Financial Partners LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $574,000. Bank of New York Mellon Corp raised its holdings in Deere & Company by 5.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,063,898 shares of the industrial products company’s stock worth $874,473,000 after purchasing an additional 107,544 shares during the period. Finally, CWS Financial Advisors LLC purchased a new position in Deere & Company during the fourth quarter valued at $226,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $487.52 on Wednesday. The company has a market cap of $132.78 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.14 and a beta of 0.98. Deere & Company has a 1 year low of $340.20 and a 1 year high of $515.05. The stock’s 50 day simple moving average is $453.87 and its two-hundred day simple moving average is $423.91. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a $1.62 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.33%. Deere & Company’s payout ratio is 28.72%.

Analysts Set New Price Targets

Several research analysts have recently commented on DE shares. UBS Group raised their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. StockNews.com cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. Truist Financial reiterated a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Evercore ISI raised their price objective on shares of Deere & Company from $437.00 to $455.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Finally, Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $454.65.

Insider Activity

In other news, insider Rajesh Kalathur sold 24,580 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares of the company’s stock, valued at approximately $37,484,675.58. The trade was a 24.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.