Cedar Point Capital Partners LLC Takes Position in Deere & Company (NYSE:DE)

Cedar Point Capital Partners LLC acquired a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,665 shares of the industrial products company’s stock, valued at approximately $666,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Briaud Financial Planning Inc bought a new stake in Deere & Company during the third quarter worth approximately $25,000. Rakuten Securities Inc. bought a new stake in Deere & Company during the fourth quarter worth approximately $28,000. Naples Money Management LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $29,000. Bfsg LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $30,000. Finally, ZRC Wealth Management LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $28,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 0.2 %

Shares of Deere & Company stock traded down $0.73 during midday trading on Friday, reaching $393.33. 998,338 shares of the company’s stock traded hands, compared to its average volume of 1,243,125. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company’s 50 day simple moving average is $387.86 and its 200 day simple moving average is $383.61. The company has a market cap of $109.49 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the previous year, the business earned $6.55 EPS. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is presently 17.12%.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. Evercore ISI raised their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Wells Fargo & Company reduced their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $433.28.

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.