Financial Enhancement Group LLC Makes New $6.76 Million Investment in Deere & Company (NYSE:DE)

Financial Enhancement Group LLC bought a new stake in shares of Deere & Company (NYSE:DE - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,200 shares of the industrial products company's stock, valued at approximately $6,761,000. Deere & Company accounts for about 1.2% of Financial Enhancement Group LLC's holdings, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Csenge Advisory Group grew its stake in Deere & Company by 1.2% in the first quarter. Csenge Advisory Group now owns 2,617 shares of the industrial products company's stock worth $1,075,000 after purchasing an additional 31 shares during the period. Advisory Services Network LLC grew its stake in Deere & Company by 3.3% in the first quarter. Advisory Services Network LLC now owns 19,273 shares of the industrial products company's stock worth $7,916,000 after purchasing an additional 608 shares during the period. OLD Second National Bank of Aurora grew its stake in shares of Deere & Company by 3.0% in the first quarter. OLD Second National Bank of Aurora now owns 5,412 shares of the industrial products company's stock worth $2,223,000 after acquiring an additional 156 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Deere & Company by 3.3% during the first quarter. Empirical Finance LLC now owns 9,974 shares of the industrial products company's stock valued at $4,097,000 after acquiring an additional 316 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Deere & Company by 37.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 11,157 shares of the industrial products company's stock worth $4,582,000 after purchasing an additional 3,015 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock traded up $5.45 during trading on Thursday, reaching $411.16. The company's stock had a trading volume of 1,038,579 shares, compared to its average volume of 1,435,258. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $112.49 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company's fifty day moving average is $402.27 and its 200-day moving average is $385.56.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts' consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business's quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.20 earnings per share. On average, research analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.43%. Deere & Company's dividend payout ratio is currently 20.06%.

Analysts Set New Price Targets

Several analysts recently commented on DE shares. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a "neutral" rating in a research report on Friday, October 11th. Morgan Stanley reduced their price target on shares of Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $402.00 to $389.00 and set a "hold" rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price for the company. Finally, Truist Financial upped their price target on Deere & Company from $443.00 to $496.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and a consensus price target of $420.69.

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.