Foundations Investment Advisors LLC Increases Stock Position in Deere & Company (NYSE:DE)

Foundations Investment Advisors LLC boosted its stake in shares of Deere & Company (NYSE:DE - Free Report) by 56.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,859 shares of the industrial products company's stock after acquiring an additional 1,389 shares during the quarter. Foundations Investment Advisors LLC's holdings in Deere & Company were worth $1,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DE. Everence Capital Management Inc. lifted its stake in Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock worth $5,179,000 after purchasing an additional 7,300 shares during the last quarter. Stockbridge Partners LLC raised its holdings in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock worth $369,019,000 after buying an additional 540,874 shares during the period. Toronto Dominion Bank lifted its stake in shares of Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after acquiring an additional 1,291 shares during the last quarter. Chase Investment Counsel Corp boosted its holdings in Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock valued at $1,669,000 after acquiring an additional 1,400 shares during the period. Finally, Czech National Bank grew its position in Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after acquiring an additional 2,964 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE traded down $1.49 during midday trading on Wednesday, hitting $478.50. The company's stock had a trading volume of 977,008 shares, compared to its average volume of 1,396,717. The company has a market cap of $130.32 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The business's 50 day simple moving average is $441.75 and its 200 day simple moving average is $408.11. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE - Get Free Report) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.20 billion. During the same period in the previous year, the firm posted $8.26 EPS. The business's revenue for the quarter was down 32.8% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company's previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company's dividend payout ratio (DPR) is 25.31%.

Analyst Ratings Changes

Several research firms have recently weighed in on DE. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Oppenheimer upped their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an "outperform" rating in a research note on Tuesday. UBS Group lifted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Hold" and an average target price of $444.50.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.