Cornerstone Advisory LLC Purchases 49 Shares of Deere & Company (NYSE:DE)

Cornerstone Advisory LLC lifted its position in shares of Deere & Company (NYSE:DE) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 680 shares of the industrial products company’s stock after acquiring an additional 49 shares during the period. Cornerstone Advisory LLC’s holdings in Deere & Company were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Essex Savings Bank boosted its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 26 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in Deere & Company by 1.5% in the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares during the last quarter. Bleakley Financial Group LLC grew its position in Deere & Company by 0.5% in the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares during the period. Simplicity Solutions LLC raised its stake in Deere & Company by 0.5% during the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after buying an additional 27 shares during the last quarter. Finally, Blue Chip Partners LLC lifted its holdings in shares of Deere & Company by 2.3% during the 4th quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock valued at $489,000 after buying an additional 27 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research note on Friday, May 17th. Wells Fargo & Company dropped their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Finally, Stifel Nicolaus upped their target price on shares of Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $432.92.

Deere & Company Price Performance

Deere & Company stock traded down $6.87 during mid-day trading on Monday, hitting $367.89. The stock had a trading volume of 1,284,200 shares, compared to its average volume of 1,481,965. Deere & Company has a one year low of $353.15 and a one year high of $450.00. The company has a current ratio of 2.01, a quick ratio of 1.80 and a debt-to-equity ratio of 1.81. The firm has a market capitalization of $101.38 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.50 and a beta of 0.98. The firm’s 50 day moving average is $397.46 and its 200 day moving average is $386.52.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The firm had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter last year, the business posted $9.65 earnings per share. The firm’s revenue was down 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 25.75 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Deere & 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.