Strategic Wealth Investment Group LLC Makes New Investment in Deere & Company (NYSE:DE)

Strategic Wealth Investment Group LLC bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, HoldingsChannel.com reports. The fund bought 350,151 shares of the industrial products company’s stock, valued at approximately $148,359,000. Deere & Company comprises 10.0% of Strategic Wealth Investment Group LLC’s portfolio, making the stock its largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the third quarter worth $32,000. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth about $32,000. Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at about $47,000. Finally, ORG Wealth Partners LLC acquired a new stake in Deere & Company during the third quarter worth about $55,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $479.91 on Friday. The business’s 50 day moving average price is $443.22 and its 200 day moving average price is $408.60. The company has a market cap of $130.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a one year low of $340.20 and a one year high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 EPS. The company’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average target price of $444.50.

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.