Park Avenue Securities LLC Acquires 1,328 Shares of Deere & Company (NYSE:DE)

Park Avenue Securities LLC grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 39.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,724 shares of the industrial products company's stock after buying an additional 1,328 shares during the period. Park Avenue Securities LLC's holdings in Deere & Company were worth $2,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. FMR LLC increased its position in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after buying an additional 988,380 shares during the period. Pathway Financial Advisers LLC increased its position in shares of Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company's stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC raised its stake in Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company's stock worth $322,218,000 after buying an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC lifted its holdings in 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. Institutional investors own 68.58% of the company's stock.

Analysts Set New Price Targets

DE has been the topic of a number of research analyst reports. Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a "neutral" rating on the stock in a report on Tuesday, January 14th. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Oppenheimer boosted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. Jefferies Financial Group lowered shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Finally, Morgan Stanley boosted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of "Hold" and a consensus price target of $442.83.

Deere & Company Stock Performance

NYSE DE traded up $17.46 during trading hours on Friday, hitting $456.57. The company's stock had a trading volume of 2,315,484 shares, compared to its average volume of 906,286. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company's 50 day simple moving average is $431.48 and its two-hundred day simple moving average is $402.25. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a market cap of $124.35 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts' consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business's revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the previous year, the business posted $8.26 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company's dividend payout ratio is presently 25.31%.

Deere & Company Profile

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.