Visionary Horizons LLC Grows Position in Deere & Company (NYSE:DE)

Visionary Horizons LLC increased its position in shares of Deere & Company (NYSE:DE) by 14.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,173 shares of the industrial products company’s stock after buying an additional 149 shares during the quarter. Visionary Horizons LLC’s holdings in Deere & Company were worth $466,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Associates Ltd. raised its holdings in Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 939 shares during the last quarter. Harbor Investment Advisory LLC grew its position in Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after acquiring an additional 372 shares during the period. Penserra Capital Management LLC grew its position in Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after acquiring an additional 5,485 shares during the period. Summit Asset Management LLC grew its position in Deere & Company by 24.1% during the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 200 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Deere & Company by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after acquiring an additional 31,074 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DE shares. DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Daiwa Capital Markets upped their target price on Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Citigroup initiated coverage on Deere & Company in a research note on Wednesday. They issued a “neutral” rating and a $395.00 price target on the stock. Stifel Nicolaus boosted their price target on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Truist Financial initiated coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Eleven research 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 presently has a consensus rating of “Hold” and a consensus target price of $431.14.

Deere & Company Stock Performance

Shares of DE stock opened at $376.11 on Thursday. Deere & Company has a 12-month low of $353.15 and a 12-month high of $450.00. The firm has a market capitalization of $103.64 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98. The business has a 50 day simple moving average of $386.75 and a 200 day simple moving average of $387.08. 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 (NYSE:DE) last issued its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion during the quarter, compared to analyst estimates of $13.29 billion. During the same period in the prior year, the company posted $9.65 EPS. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 25.61 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, June 28th. Deere & Company’s payout ratio is currently 17.70%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.