Verity Asset Management Inc. Takes Position in Deere & Company $DE

Verity Asset Management Inc. bought a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,156 shares of the industrial products company’s stock, valued at approximately $538,000.

A number of other institutional investors have also modified their holdings of DE. Brighton Jones LLC grew its holdings in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after acquiring an additional 1,278 shares during the period. Schnieders Capital Management LLC. grew its holdings in Deere & Company by 7.8% during the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock worth $1,056,000 after acquiring an additional 150 shares during the period. Jump Financial LLC acquired a new position in Deere & Company during the second quarter worth $2,153,000. NewEdge Advisors LLC grew its holdings in Deere & Company by 6.0% during the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in Deere & Company by 6.7% during the second quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE traded up $27.16 during trading on Thursday, reaching $587.18. 184,705 shares of the stock were exchanged, compared to its average volume of 1,476,456. The business’s 50 day moving average price is $591.57 and its two-hundred day moving average price is $528.40. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.21 and a quick ratio of 1.96. The company has a market capitalization of $158.60 billion, a price-to-earnings ratio of 33.03, a P/E/G ratio of 1.98 and a beta of 0.98. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.52. The company had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.Deere & Company’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.19 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 18.01 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s payout ratio is presently 36.53%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DE. Truist Financial upped their price objective on Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Barclays upped their price objective on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Wolfe Research upped their price objective on Deere & Company from $550.00 to $660.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Argus upped their price objective on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley upped their price objective on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $655.45.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.