Advance Capital Management Inc. Makes New $217,000 Investment in Deere & Company (NYSE:DE)

Advance Capital Management Inc. bought a new position in shares of Deere & Company (NYSE:DE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 521 shares of the industrial products company’s stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. True Wealth Design LLC grew its stake in shares of Deere & Company by 1,180.0% in the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Pineridge Advisors LLC increased its stake in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company in the fourth quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management bought a new position in shares of Deere & Company during the 4th quarter valued at approximately $33,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on DE. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Evercore ISI increased their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Truist Financial reaffirmed a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Bank of America increased their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Citigroup dropped their target price on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $410.50.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $402.91 on Tuesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market capitalization of $111.03 billion, a PE ratio of 12.22, a P/E/G ratio of 1.36 and a beta of 0.92. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a 50-day simple moving average of $383.08 and a two-hundred day simple moving average of $385.09.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.20 earnings per share. Research analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s payout ratio is 17.70%.

Deere & Company 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.