Sovran Advisors LLC Purchases Shares of 834 Deere & Company (NYSE:DE)

Sovran Advisors LLC purchased a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 834 shares of the industrial products company’s stock, valued at approximately $361,000.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the period. Geode Capital Management LLC lifted its position in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after acquiring an additional 31,459 shares in the last quarter. FMR LLC lifted its position in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Deere & Company by 8.6% in the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after acquiring an additional 158,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Deere & Company by 5.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock valued at $722,733,000 after purchasing an additional 85,401 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $476.53 on Thursday. The firm has a market capitalization of $129.78 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company’s 50-day moving average is $445.46 and its 200 day moving average is $414.70. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 EPS. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Truist Financial upped their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley boosted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Oppenheimer boosted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $446.17.

About Deere & Company

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.