Visionary Horizons LLC Acquires 131 Shares of Deere & Company (NYSE:DE)

Visionary Horizons LLC boosted its stake in Deere & Company (NYSE:DE) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,527 shares of the industrial products company’s stock after purchasing an additional 131 shares during the quarter. Visionary Horizons LLC’s holdings in Deere & Company were worth $647,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fermata Advisors LLC purchased a new position in shares of Deere & Company during the third quarter valued at about $239,000. Freestate Advisors LLC bought a new stake in Deere & Company during the 3rd quarter valued at approximately $237,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Deere & Company by 301.4% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,951 shares of the industrial products company’s stock worth $817,000 after acquiring an additional 1,465 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Deere & Company by 2.2% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,995 shares of the industrial products company’s stock worth $3,336,000 after acquiring an additional 169 shares in the last quarter. Finally, First Affirmative Financial Network lifted its stake in shares of Deere & Company by 32.9% in the 3rd quarter. First Affirmative Financial Network now owns 771 shares of the industrial products company’s stock valued at $322,000 after purchasing an additional 191 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $465.63 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market cap of $126.82 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The business has a 50-day simple moving average of $445.00 and a two-hundred day simple moving average of $412.86. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the company earned $8.26 earnings per share. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

DE has been the topic of several recent research reports. UBS Group upped their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial increased their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley boosted their price objective 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. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.