Cedar Point Capital Partners LLC Purchases Shares of 1,665 Deere & Company (NYSE:DE)

Cedar Point Capital Partners LLC purchased a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,665 shares of the industrial products company’s stock, valued at approximately $666,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Deere & Company by 46,241.1% during the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares in the last quarter. FMR LLC increased its position in shares of Deere & Company by 6.6% during the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares in the last quarter. Quadrature Capital Ltd increased its position in shares of Deere & Company by 94.0% during the third quarter. Quadrature Capital Ltd now owns 301,396 shares of the industrial products company’s stock worth $113,759,000 after purchasing an additional 146,069 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $43,384,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Deere & Company during the third quarter worth about $38,876,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE:DE traded down $0.73 during trading on Friday, hitting $393.33. 998,338 shares of the stock were exchanged, compared to its average volume of 1,243,125. The company has a fifty day moving average price of $387.86 and a two-hundred day moving average price of $383.61. The company has a market cap of $109.49 billion, a PE ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00.

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

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Stifel Nicolaus lowered their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company lowered their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Morgan Stanley started coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average 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.