Strategic Planning Group LLC Acquires 644 Shares of Deere & Company (NYSE:DE)

Strategic Planning Group LLC raised its holdings in Deere & Company (NYSE:DE) by 15.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,729 shares of the industrial products company’s stock after purchasing an additional 644 shares during the period. Strategic Planning Group LLC’s holdings in Deere & Company were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allen Mooney & Barnes Investment Advisors LLC increased its holdings in Deere & Company by 16.6% in the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,077 shares of the industrial products company’s stock valued at $444,000 after buying an additional 153 shares during the period. Perkins Coie Trust Co increased its holdings in Deere & Company by 17.0% in the 1st quarter. Perkins Coie Trust Co now owns 558 shares of the industrial products company’s stock valued at $229,000 after buying an additional 81 shares during the period. Harbor Investment Advisory LLC increased its holdings in Deere & Company by 27.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares during the period. Financial Synergies Wealth Advisors Inc. increased its holdings in Deere & Company by 2,500.0% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in Deere & Company in the 1st quarter valued at $6,359,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $375.44 on Tuesday. The company has a market capitalization of $103.46 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.51 and a beta of 0.98. The firm’s 50 day simple moving average is $387.23 and its 200 day simple moving average is $387.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. Deere & Company has a fifty-two week low of $353.15 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The business had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. Deere & Company’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same period last year, the company posted $9.65 EPS. As a group, sell-side analysts forecast that Deere & Company will post 25.61 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a $1.47 dividend. The ex-dividend date is Friday, June 28th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.57%. Deere & Company’s dividend payout ratio is 17.70%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DE. Stifel Nicolaus upped their target price on shares of Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. DA Davidson reduced their price target on shares of Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. TD Cowen upped their price target on shares of Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Deere & Company from $425.00 to $385.00 and set a “neutral” rating on the stock in a research report on Friday, May 17th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $433.36.

About Deere & Company

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.